The Economist and former Congressman Joey Salceda recently revealed that based on Data from the "Portfolio Review" of the Overseas Development Assistance (ODA) of the Philippines, our Country now has over Php 1 trillion worth of Delayed Projects.
"ODAs" are Loans or Grants/Donations given by Foreign Countries for various Projects in the Philippines. The Philippines' ODA Funds is worth Usd 39.61 billion of which majority or 62% are for Infrastructure Projects.
Also out that Usd 39.61 billion, 72% or Usd 28.52 billion have been DELAYED already, and assuming an Exchange Rate of Php 56.63 per Dollar, then that's around Php 1.6 trillion. Worse is that those Projects have been delayed at an average of 39 months or 3 1/4 Years already.
MY THOUGHTS: I think most of you have read about this News already, but I wanted to reiterate this, and also put this as Reference already for my Blogs. So imagine that, these Projects would’ve and should’ve been finished by now since this Administration of the Bong Bong Marcos (BBM) is already three Years old also.
Worse is that with three Years left in Office, it is unlikely that most if any of these Projects will be completed when BBM steps down from Office (assuming he does) in 2028. And even worse, remember that these are FOREIGN LOAN or DONATIONS, so what will the Countries who gave us those will think that we are just wasting their Money?
This is one of the Proof and Legacy of just how incompetent this Government really is. Again, it really is the same as the Administration of the ‘AbNoy’ …
SOURCES:
‘President Marcos Admin has P1 trillion delayed ODA Projects’ {Archived Link}
The Official Development Assistance (ODA) {Archived Link}
