Improving the effective use of ODA, preferential loans

(VOVworld) - Deputy Prime Minister Pham Binh Minh chaired a meeting in Hanoi on Tuesday to boost the disbursement of official development assistance (ODA) and preferential loans.

According to a report by the Ministry of Planning and Investment, over the past 9 months Vietnam has signed 35 agreements with total ODA worth 4.9 billion USD, up 1.8 times against the same period last year. The total disbursed capital was 2.7 billion USD, equal to 80% of that in 2015.

Addressing the event, Mr. Minh said the government has directed ministries and agencies to implement specific measures to create practical breakthroughs in disbursement for public investment projects including projects using ODA or preferential loans.

Participants put forward solutions to speed up the disbursement of ODA and preferential loans under which ODA management agencies should harmonize procedures set by Vietnam and sponsors and adjust the legal framework towards accessing international standards.