A CONGRESSIONAL inquiry has been called by CIBAC party-list Representative Eddie Villanueva to investigate the loss of over ₱2.6 billion in commitment fees due to delayed government projects. The funds, equivalent to US$48.9 million, were paid by the government between 2014 and 2023 for foreign loans that remain unused.
Villanueva expressed deep concern over the situation, stating, “Essentially, we are wasting billions of pesos on loans that remain unused. This is a painful irony considering that millions of Filipinos lack access to quality public services. We are paying for money we borrowed but haven’t used.”
The congressman highlighted several government agencies that have failed to implement projects funded by foreign loans, including the Department of Transportation (DOTr), Department of Public Works and Highways (DPWH), Department of Agrarian Reform (DAR), Department of Agriculture (DA), Department of Education (DepEd), Department of Social Welfare and Development (DSWD), Department of Environment and Natural Resources (DENR), National Irrigation Administration (NIA), Department of Health (DOH), and Department of Finance (DOF).
Villanueva argued that the failure to utilize these funds effectively has resulted in a reduction of the overall amount available for projects that would benefit Filipinos. He emphasized the need for accountability and transparency in the management of public funds.
“It is unjust for the Filipinos to still pay for inefficiencies and mismanagement in foreign loans. Our people deserve nothing less than transparent, accountable and effective stewardship of public funds. Every peso that can be saved from commitment fees can be redirected to funding pressing needs such as healthcare, education, and social services,” he said.
The inquiry will investigate the reasons behind delays in project implementation, examining loans obtained from institutions such as the Asian Development Bank, Japan International Cooperation Agency, Asian Infrastructure Investment Bank (AIIB), World Bank, and countries like France and China.
