The ODA, as defined in Republic Act 8182 – ODA Act of 1996, is a loan or a grant administered to promote sustainable social and economic development and welfare of the Philippines. ODA resources must be contracted with governments of foreign countries with whom the Philippines has diplomatic, trade relations or bilateral agreements, or which are members of the United Nations, their agencies, and international or multilateral lending institutions.
ODA Act of 1996
An act excluding Official Development Assistance (ODA) from the foreign debt limit in order to facilitate the absorption and optimize the utilization of ODA resources, amending for the purpose paragraph 1, section 2 of Republic Act No. 4860, as amended
Republic Act (RA) No. 8182, also known as the ODA Act of 1996, as amended by RA 8555, mandated NEDA to conduct an annual review of the status of all projects financed by ODA and identify causes of implementation and completion delays or reasons for bottlenecks, cost overruns (actual and prospective), and continued project or program viability. NEDA is required to submit to Congress a report on the outcome of the review not later than June 30 of each year. The ODA Act complemented NEDA Board Resolution No. 30 series of 1992, which instructed the NEDA Investment Coordination Committee (ICC) to review all on-going ODA-funded programs and projects, with the aim of improving ODA absorptive capacity.