Official Development Assistance (ODA) is a major source of development financing for the Philippines. Republic Act No. 8182 or the Official Development Assistance Act of 1996 defines ODA as a loan or loan and grant contracted with (a) foreign governments with whom the Philippines has diplomatic and trade relations or bilateral agreements, (b) member countries of the United Nations, and (c) international or multilateral lending institutions. ODA contains a grant element of at least twenty-five percent (25%) and is intended to promote sustainable social and economic development and welfare.
The Commission on Audit (COA) prepares a consolidated annual audit report that tracks new and cumulative ODA data, with 1 January 1995 as the reckoning date. The report includes the total number of projects, cumulative net loan commitments (CNLC), and cumulative availments. RA 8182 mandates the reporting of cumulative figures.>>read complete document