Prime Minister urges faster disbursement of ODA capital, concessional loans

Wednesday, 2017-08-02 02:48:46
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Prime Minister Nguyen Xuan Phuc and representatives of some ministries, sectors and localities have a meeting on ODA disbursement on August 1 (Photo: VNA)
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NDO/VNA – Prime Minister Nguyen Xuan Phuc urged faster disbursement of ODA capital and concessional loans while chairing a meeting with some ministries, sectors and localities in Hanoi on August 1.

The Ministry of Planning and Investment reported that from 1993, when Vietnam recovered its relations with international sponsors, to June 2017, the country inked agreements on non-refundable loans and aid worth some US$82.61 billion.

As of the end of June 2017, 810 programmes and projects were being implemented with total undisbursed capital of about US$ 21.167 billion. The sum will be disbursed from now through 2026 according to the agreements’ schedule, but most of the sum, US$ 17.485 billion, is set to be disbursed between 2017 and 2020.

Total ODA capital and concessional loans able to be disbursed in 2017 are about US$4.6 billion, of which about 33 percent, or US$1.5 billion was disbursed in the year’s first half, according to the ministry.

Participants at the meeting pointed out shortcomings in the use and management of ODA capital and sought measures to address those problems.

PM Nguyen Xuan Phuc said ODA capital has significantly contributed to national development, and the majority of it has been used effectively.

All of the signed ODA capital and concessional loans must be disbursed on schedule, he stressed, adding that each project owner must review their capacity and responsibility and withdraw or seek other funding sources when realising their incompetence.

The Government leader also instructed ministries, sectors and localities to facilitate ODA capital and concessional loans. He told them soon build plans on ODA and concessional loans attraction for 2018 and three-year financial plans.