Loan Performance Report. The disbursement level grew to US$826.59 million, increasing by 96 percent compared to the same period last year. As of the
first semester of 2009, total cumulative ODA loans amounted to US$8.07 billion, financing 91 loans.
"The significant increase in disbursements was largely attributed to the single tranche release of two program loans of US$150 million (Governance in Justice Sector Reform Program, Subprogram II) and US$ 200 million (The Global Food Crisis Response Program Development Policy Operations) funded
by ADB and WB, respectively," the report said.
The disbursement level is the actual amount of disbursements from all ODA loans.
There was a general increase in all major financial indicators of ODA absorptive capacity. The disbursement rate, which is the percentage of actual disbursements over target disbursement, increased to 86 percent in the first six months of 2009 from 80 percent during the same period last year. On the other hand, the percentage of cumulative actual disbursements over scheduled disbursements, or the availment rate, rose to 81 percent in the first half of 2009 from 74 percent in the same period in 2008.
The disbursement ratio also rose to 17 percent as of the first semester of 2009 from 13 percent in the same period last year. The disbursement ratio is the share of actual disbursement to the net loan amount available during the year.
However, 31 program and project loans had disbursement rates below 50 percent due to procurement-related and financial processing issues and other issues such as right-of-way.
The biggest donor of ODA is the Government of Japan-Japan International Cooperation Agency (GOJ-JICA), having a share of 38 percent of total ODA Commitments. JICA is followed by the World Bank (18%), the Asian Development Bank (15%), and China (12%). All other donors comprise 17 percent of total ODA.