The Philippines was able to secure financing support from development partners and commercial markets for the country’s coronavirus disease 2019 (COVID-19) response amounting to $22.51 billion to date, data from the Department of Finance (DOF) showed.
This amount has been secured for COVID-19 response efforts as of August 25, 2021, according to data posted on the DOF website.
Out of the total financing, the DOF said $19.65 billion has been disbursed to date.
The DOF added that $20.06 billion in budgetary support financing came from the Asian Development Bank, World Bank, Asian Infrastructure Investment Bank, Agence Franí§aise de Développement, Japan International Cooperation Agency, Export-Import Bank of Korea-Economic Development Cooperation Fund and foreign currency denominated global bonds.
In addition, the DOF said grant and loan financing of $2.45 billion has been contracted in support of various projects implemented by agencies involved in the COVID-19 response.
Last month, the Department of Budget and Management (DBM) reported it has released P679.27 billion as of June 30, 2021, to various implementing agencies to support projects, activities and programs intended to respond to the COVID-19 pandemic.
Of this, P600.66 billion has been obligated and about P550.53 billion has been disbursed.
This is equivalent to an 88.4 percent obligation rate and 91.7 percent disbursement rate, respectively, the DBM said.
