Vietnam Ministry: Sufficient Reciprocal Capital for ODA Projects
The Vietnamese Ministry of Planning and Investment (MPI) will provide timely and enough reciprocal capital to ensure implementation of projects using Official Development Assistance (ODA), said Deputy Minister Cao Viet Sinh.
In the current difficult economic situation, boosting ODA disbursement pace will help increase capital for the nation’s investment and development, Sinh said.
The MPI will send delegations to inspect the implementation of ODA projects in cities and provinces nationwide, Sinh added.
Vietnam has inked contracts to get US$1.47 billion worth of ODA in the first five months, meeting 38 per cent of the year’s target, the MPI said.
The country has disbursed US$720 million of official development assistance in the same period, including US$649 million of loans and US$71 million of grants.
The World Bank, one of Vietnam’s four biggest donors, said Vietnam’s power industry had seen the highest five-month disbursement, followed by transport, urban development and education.
Ho Chi Minh City topped ODA disbursement rate of 78.3 per cent and northern Hai Phong City ranked second with around 40 per cent and Hanoi with 36 per cent. (Vietnam & World Economy, VNA)
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