Manila, July 3 -- The Philippines has sufficient buffers to cushion the eventual phaseout of concessional Official Development Assistance (ODA) following its upgrade to upper-middle income economy status, a Department of Economy, Planning, and Development (DEPDev) official said Friday.

Concessional ODA refers to foreign aid loans extended by governments or multilateral institutions to developing nations.

In an interview on Bagong Pilipinas Ngayon, DEPDev Undersecretary Rosemarie Edillon said the phaseout of concessional loans comes with a three-year transition period, giving the country time to adjust through measures already put in place.

Among these is the Public-Private Partnership (PPP) Code of the Philippines, or Republic Act 119...