Philippines Reducing Its Dependence On Foreign Assistance

The Philippines' improving fiscal position has allowed it gradually wean itself off official development assistance, or ODA, to finance public works and other social services projects, Economic Planning Secretary Romulo Neri said Thursday.

Neri said in a statement that cumulative ODA totaled $10.2 billion in 2005, lower by 5% from 2004 and down sharply from its peak of $13.3 billion in 2000.

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