Amid pockets of growth, the Philippines remains a recipient of significant international aid from bilateral and multilateral donors as the country continued to grapple with poverty, corruption, internal security and humanitarian emergencies.
Classified as a lower-middle-income economy by the World Bank, the Philippines had available foreign loans worth $9.03 billion as of the third quarter of 2009, according to the Philippines’ National Economic Development Authority (NEDA). This amount includes two new loans, 71 remaining loans from previous years and 19 others that closed the same year.
Some $1.3 billion in grants covered 314 projects on good governance, customs reform, village infrastructure and capacity building, NEDA figures showed. The amount does not include grants that foreign donors awarded directly to non-governmental organizations.