Vietnam Minister Affirms Effective Use of ODA Funds
The Vietnamese government committed to use official development assistance (ODA) sources from international donors in its socio-economic development, Minister of Planning and Investment Vo Hong Phuc said.
The Thoi bao Kinh te newspaper quoted Phuc as saying that the Vietnamese government is taking drastic measures in order to take advantages of the ODA in its socio-economic development maximally.
Vietnam is in dire of ODA for its development projects such as health, education and poverty reduction, especially in climate change mitigation, Phuc added, expecting that foreign donors will continue support Vietnam next years.
However, he affirmed that Vietnam is gradually escape from countries with low income, thus the donors will change scale and structures of the funding for Vietnam in the coming years.
The Southeast Asian country needs around $30 billion in ODA next five years though it has become a middle-income country.
International donors pledged to provide Vietnam with $7.905 billion in official development assistance (ODA) in 2011, just 2% lower than last year’s record high of $8 billion.
Vietnam disbursed $9.81 billion in ODA between 2006 and 2009, making up 41% of total pledged ODA. The figure is forecast to reach $12.96 billion by end-December this year. (Vietnam Economic Times)
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