Efforts made to accelerate disbursement of ODA

15:15 | 14/08/2014

VGP – The Government’s conclusive directions on Official Development Assistance (ODA) use and management are hoped to accelerate the disbursement of the sum in the context that the nation is mobilizing all resources for socio-economic development.

Corresponding capital to be advanced by 2015

According to the Ministry of Planning and Investment, Viet Nam disbursed US$2.51 billion sourced from ODA and preferential loans over the past seven months, up 14% compared to the same period last year.

However, as much as US$20.9 billion in ODA has not been disbursed, of which US$8 billion are intended for programs and projects to be completed in 2014. The lack in corresponding capital is one of the reason behind the slow disbursement in the capital.

To deal with the problem, the PM signed a Decision to advance the corresponding capital from the Government bond in the 2015 plan for ODA programs and projects.

Accordingly, the PM decided to advance VND3,590.9 billion for ODA corresponding capital from the Government bonds in the 2015 plan for ODA programs and projects launched by the Ministry of Transport and localities. The corresponding capital will be realized and paid till March 31, 2015.

Efforts to step up progress of ODA projects

In the Action Plan to improve the implementation of programs/projects using official development assistance and preferential capital between 2014 and 2015 approved at the end of July, PM Nguyen Tan Dung assigned specific missions for ministries and agencies to manage and use the capital more effectively.

The PM asked for strengthening transparency, anti-corruption and acceleration of supervision and evaluation on ODA projects.

Besides, the Vietnamese Government is seeking for measures to accelerate the implementation of ODA projects. Deputy PM Hoang Trung Hai, head of the National Steering Committee for ODA and Preferential Loans showed determination in dealing with limitations, shortcomings and weaknesses in ODA projects.

By Thuy Dung