THE SPANISH GOVERNMENT has offered the Philippines $ 300 million in official development assistance (ODA), according to a senior official of the Ministry of Finance (DoF)
"We have received another offer from an ODA partner and this time it is from the Spanish government for $ 300 million in official development assistance over the next three years," Finance Assistant Secretary Maria Edita Z. Tan said last week to reporters 19659004] Mrs Tan said that the Spanish Government's preferences included infrastructure, energy, renewable energy, telecommunications, water treatment, solid waste, agro-industry, the food industry and the tourism sector, adding that they are actually interested in support to their construction firm & # 39; s, contractors ".
Although both sides still have to sign a memorandum of understanding for official development aid, she said that "the conditions are very good."
Ms. Tan said that the Philippines could tap the euro or dollar loan facility of Spain. "For the euro, it is 0.25% over a 35-year period including a grace period of 10 years, while the dollar facility is 1.15% over a 20-year period, including a grace period of 10 years. could cover both project programs ", said the finance official.
She said that the Finance Department and the Spanish government started bilateral talks for official development aid at the end of last year.
Ms. Tan expects both parties to color the MOU "within the next two months."
"We have never used this opportunity before, there was an export credit (facility), but this is the first ODA, pure ODA, but I think there have been a number of grants in the past," she said. .
In June, South Korea promised $ 1 billion in official development assistance to the Duterte administration. Both China and Japan have also pledged $ 9 billion in ODA to the government in 2016 and 2017 respectively. – Elijah Joseph C. Tubayan