The Department of Finance (DOF) will establish better coordination arrangement and structures with the Department of Foreign Affairs and the National Economic and Development Authority (NEDA) to promote transparency in the official development assistance (ODA) process and monitor its impact on beneficiaries.
“This will pave the way to further strengthen the guidelines and streamline the processing of ODA through the proposed use of the ODA Microsite, as well as codified and streamlined systems and policies,” the DOF said in a statement
The commitment is a result of a meeting between the agencies and the ODA community where DOF IFG Undersecretary Joven Balbosa highlighted the importance of transparency and efficient progress monitoring of ODAs.
The initiative also considered the evolving partnerships between the government and its foreign bilateral and multilateral development partners, as well as emerging laws and policies.
The meeting was attended by partners from the Office of United Nations and International Organizations (UNIO), Office of Treaties and Legal Affairs (OTLA), Office of Middle East and African Affairs (OMEAA), Office of European Affairs (OEA), and Office of American Affairs (OAA).
Other attendees from the government were representatives from the Office of the President-Office of the Deputy Executive Secretary for General Administration (OP-ODESGA) and the Department of Budget and Management (DBM).
The DOF’s International Finance Group (IFG) is in-charge of the negotiations for ODA.
The ODA Microsite will serve as a repository of ODA projects, detailing their corresponding project descriptions, progress reports, and success stories.
Apart from this, the agencies also discussed how to streamline, codify, and automate procedures for the negotiation and implementation of ODAs contracted from bilateral or multilateral development partners.
This also includes optimizing and expediting ODA implementation schedules across relevant government offices.
ODAs are loans or grants that are geared towards promoting sustainable social and economic development for the benefit of the people.
They are contracted with governments of foreign countries with whom the Philippines has diplomatic, trade relations, or bilateral agreements.
