The DOF has raised a total of USD16.26 billion in budgetary support financing from the ADB, World Bank, AIIB, AFD, JICA, KEXIM-EDCF and foreign currency denominated global bonds, of which USD15.60 billion has been disbursed to the government. In addition, grant and loan financing amounting to a total of USD2.14 billion have been contracted in support of various projects to be implemented by agencies involved in COVID-19 response. Figures are rebased to reflect 2020 average exchange rates.
in USD million
|Budgetary Support Financing|
|2020 Contracted Financing|
|WB Third Disaster Risk Management Development Policy Loan (DLP)|
|ADB COVID-19 Active Response and Expenditure Support (CARES) Program|
|ADB Social Protection Support Project - Second Additional Financing|
|ROP USD Bonds Due 2045 (2.950% coupon)||1,350.00|
|ROP USD Bonds Due 2030 (2.457% coupon)||1,000.00|
|WB Emergency COVID-19 Response DPL|
|ADB Support to Capital Market Generated Infrastructure Financing, Subprogram 1|
|AIIB CARES Program|
|AFD Expanding Private Participation in Infrastructure Program, Subprogram 2[a]|
|AFD Inclusive Finance Development Program, Subprogram 1[b]|
|ADB Expanded Social Assistance Program|
|JICA COVID-19 Crisis Response Emergency Support Loan[c]|
|ADB Competitive and Inclusive Agriculture Development Program, Subprogram 1|
|ADB Inclusive Finance Development Program, Subprogram 2|
|JICA Post Disaster Standby Loan (Phase 2)[d]|
|ADB Disaster Resilience Improvement Program[e]|
|KEXIM-EDCF Program Loan for COVID-19 Emergency Response Program|
|WB Philippines Beneficiary FIRST Social Protection Project|
|ROP USD Bonds Due 2045 (2.650% coupon)||1,500.00|
|ROP USD Bonds Due 2031 (1.648% coupon)||1,250.00|
|WB Promoting Competitiveness and Enhancing Resilience to Natural Disasters Subprogram 2 DPL|
|ROP Bonds Due 2024 (0.001% coupon)[f]||515.24|
|ROP Bonds Due 2025 (0.250% coupon)[g]||741.58|
|ROP Bonds Due 2033 (1.200% coupon)[g]||741.58|
|ROP Bonds Due 2041 (1.750% coupon)[h]||912.71|
|Subtotal, 2020 Contracted Financing||16,063.11|
|Previously Contracted Financing|
|WB Social Welfare Development and Reform Project II - Additional Financing[i]|
|Subtotal, Previously Contracted Financing||200.00|
|Subtotal, Budgetary Support Financing||16,263.11|
|ADB COVID-19 Emergency Response Project||3.00|
|ADB Rapid Emergency Supplies Provision[j]||5.00|
|Government of Japan Non-Project Grant Aid for the Provision of Medical Equipment to DOH[k]||18.74|
|Subtotal, Grant Assistance||26.74|
|Project Loan Financing|
WB Philippines COVID-19 Emergency Response Project (PCERP)
|WB Support to Parcelization of Lands for Individual Titling Project|
|ADB Health System Enhancement to Address and Limit COVID-19 (HEAL)|
|WB Philippines Beneficiary FIRST Social Protection Project|
|WB Additional Financing for the KALAHI CIDSS National Community Driven Development Project (NCDDP)||300.00|
|WB Additional Financing for the PCERP*|
|ADB Second HEAL under the Asia Pacific Vaccine Access Facility (HEAL 2)*||400.00|
|AIIB HEAL 2*||300.00|
|Subtotal, Project Loan Financing||2,115.0|
[a]Amount in original currency: EUR150.00 million
[b]Amount in original currency: EUR100.00 million
[c]Amount in original currency: JPY50.00 billion
[d]Amount in original currency: JPY50.00 billion; disbursement is contingent on pre-agreed triggers including the declaration of a state of calamity as a result of a natural or health-related disaster, declaration of a public health emergency, and imposition of an enhanced community quarantine or its functional equivalent.
[e]For disbursement, a Disaster Event shall have occurred and in connection therewith: (i) for a natural hazard, the President has declared a state of calamity or taken equivalent measures; and (ii) for a health related emergency, the Borrower has enacted a law in response to a public health emergency, or the President has (a) declared a state of public health emergency, or (b) taken an equivalent measure including issuance of a proclamation or an executive order declaring or describing a worsening health situation, or imposing an enhanced community quarantine or its functional equivalent
[f]Amount in original currency: JPY55.00 billion
[g]Amount in original currency: EUR650.00 million
[h]Amount in original currency: EUR800.00 million
[i]Total loan amount is USD300.00 million, of which USD200.00 million is availed for budgetary support purposes in light of COVID-19 response
[j]Executed through the issuance of a no-objection letter dated March 27, 2020
[k]Provided through Exchange of Notes dated June 8, 2020; Amount in original currency: JPY2.00 billion; Agent Agreement which will provide basis for procurement was signed on January 21, 2021.
*For vaccine procurement
|Particulars||Amount in USD million|
|KEXIM-EDCF Philippines-Korea Project Preparation Facility|
|ROP EUR Bonds Due 2023 (0.000% coupon)[a]||684.54|
|ROP EUR Bonds Due 2029 (0.700% coupon)[a]||684.54|
|JICA Metro Manila Priority Bridges Seismic Improvement Project (II)[b]|
|JICA Davao City Bypass Construction Project (II)[c]|
|JICA Cebu-Mactan Bridge (4th Bridge) and Coastal Road Construction Project[d]|
|ADB Local Governance Reform Project|
|ADB Angat Water Transmission Improvement Project - Additional Financing[e]|
|WB Philippines Customs Modernization Project|
|ADB EDSA Greenways Project|
|AIF EDSA Greenways Project|
[a]Amount in original currency: EUR600.00 million
[b]Amount in original currency: JPY4.409 billion
[c]Amount in original currency: JPY34.83 billion
[d]Amount in original currency: JPY119.225 billion
[e]Guaranteed loan; Borrower: MWSS
The project covers the installation of electric motor-driven pumps, the construction of pumping station and appurtenant structures, and the construction of irrigation canals, facilities, and other appurtenant structures. The project will irrigate around 8,700 hectares, benefitting about 4,350 farmers, thereby serving 21 barangays from Tuao and Piat in Cagayan, and Pinukpuk in Kalinga.
The New Centennial Water Source-Kaliwa Dam Project (NCWS-KDP) is an integrated system that includes the 600 million liters per day (MLD) Kaliwa Dam, its intake and other appurtenant facilities, and a 2,400 MLD capacity raw water conveyance tunnel.
Component of the Pasig-Marikina River Channel Improvement Project (Phase III), which entails the construction and improvement of the 5.4 km stretched of Lower Marikina River Channel from Napindan Channel to Manggahan Floodway and 9.9 km remaining sections between Delpan Bridge and Napindan Channel.
Construction of a bridge with will have a total length of 3.77 km, consisting of 0.32 km 2-lane main bridge (extra dosed), Pre-stressed Concrete (PSC) Beam approach bridge, with length of 2.04 km and 1.4 km 2-lanes for approach road. The project will be located across Panguil Bay between Tangub City, Misamis Occidental and Tubod, Lanao del Norte.
The project aims to add to the current Cebu International Port twenty-foot equivalent unit (TEU) container yard capacity of 7,373 TEUs to 14,400 TEUs. The new international port shall be built on a 25 ha. reclaimed land (Barangay Tayud, Municipality of Consolacion, Cebu), with 500 m berth length to accommodate two 2,000 TEU vessels; 4 quay cranes and superstructures (operation building, gate complex, weigh bridge, maintenance factory; and 1,450 m inland access road and 300 m offshore bridge.
The Manila BRT Project aims to improve the efficiency, effectiveness and safety of the public transport system along the España Boulevard-Quezon Avenue corridor in an environmentally sustainable manner.
The Project Management Consultancy will undertake the following in view of the construction phase of the PNR South Long Haul Project: (i) Preparation of the designs and terms of reference for the civil works, rolling stock, and electromechanical system; (ii)Preparation of bidding documents and tender assistance; (iii) Construction supervision; and (iv) defects liability period supervision.
The Safe Philippines Project, Phase 1 of the Department of the Interior and Local Government (DILG) aims to provide an Intelligent Video Surveillance, Analytics, and Communications system linked via a dedicated Multimedia Critical Communications infrastructure in 16 Local Government Units (LGUs) in Metro Manila. This Project shall involve the construction of a Converged Command and Control Center and integrated operations through the purchase and installation of equipment and rendering of related services. The participating LGUs are Pasig City, Marikina City, San Juan City, Mandaluyong City, Pateros, Caloocan City, Valenzuela City, Navotas City, Malabon City, Parañaque City, Las Piñas City, Quezon City, City of Manila, Taguig City, Muntinlupa City, and Pasay City.