Olongapo SubicBay BatangGapo Newscenter

Friday, May 15, 2009

SBMA wants ¥1.2-B loan canceled

WITHOUT explaining why no disbursements had been made from Japan’s Official Development Assistance (ODA) funding of its Freeport Environmental Management Project II, the Subic Bay Metropolitan Authority (SBMA) has asked that the loan be canceled.

This was reported by the National Economic and Development Authority (Neda) on Tuesday, adding it has forwarded the SBMA request to the Department of Finance.

Total project cost was estimated at ¥1.2 billion with ¥1.03 billion from Japanese ODA loan. It was supposed to rehabilitate existing landfills and procure waste-treatment equipment to enable the SBMA to handle increasing volumes of garbage.

The Neda Project Monitoring Staff (PMS) has reported that total cancellations in the first quarter mounted to $51.9 million, all of which are loans from Tokyo through the Japan International Cooperation Agency (Jica).

It said the SBMA cancellation is only one of the projects included in the first-quarter tally of projects with closed loans.

This has decreased the loan balance of Jica-funded projects to $1.36 billion. The beginning undrawn balance of Jica loans at the beginning of 2009 was at $1.41 billion.

The total loan balance of the Philippines at the start of 2009 amounted to $3.34 billion. This included loans from Jica, the Asian Development Bank, World Bank, China, and other ODA sources. C. Ordinario - Business Online

Labels: , , , , ,


Post a Comment

<< Home


This is a joint private blog of volunteers from Subic Bay. It is being maintained primarily to collate articles that may be of importance to decision making related to the future of Subic Bay and as a source of reference material to construct the history of Subic Bay.

The articles herein posted remains the sole property of original authors and publications which has full credits to the articles.

Disclaimer: Readers should conduct their own research and due diligence before using any article herein posted for whatever intended purpose it may be. This private web log will not be liable for any loss or damage caused by a reader's reliance on information obtained from volunteers of this private blog.

www.subicbay.ph, http://olongapo-subic.com, http://sangunian.com, http://olongapo-ph.com, http://oictv.com, http://brgy-ph.com, http://subicbay-news.com, http://batanggapo.com 16 January 2012