Use of Official Development Assistance (ODA) for Equitable Development
- ODA proceeds shall support equitable development across provinces through priority projects targeting economic and social service improvements.
- Factors like land area, population, resource scarcity, literacy rate, infant mortality, and poverty are considered in project prioritization.
- Preference is given to rural infrastructure, countryside development, and economic zones under PEZA law.
- NEDA must seek ODA funds targeting approximately 5% of the previous year's ODA loan for project prep, including feasibility studies and monitoring.
- ODA shall not be used for telephone programs contracted before January 1, 1996, except rural basic telephone projects inadequately served by private enterprises.
- ODA funds shall not finance projects primarily mandated for private sector service or financing private corporations with commercial credit access.
- ODA is to be utilized only for urgent or necessary national priority projects identified in advance—not just because funds are available.
Effectivity
- The law takes effect five days after publication in the Official Gazette or two national newspapers, whichever comes first.