Illustrative photo (Source: VNA)

Hanoi (VNA) – Minister of Planning and Investment Nguyen Chi Dung said that the ministry has proposed the Government issue a resolution on accelerating the disbursement of public investment capital.

The move aims to resolve obstacles and speed up the disbursement for projects in the National Target Programme (NTP) that have not been allocated public investment capital in 2016.

According to Dung, the draft resolution allows capital arrangement in 2016 for projects in the NTP and those benefiting from the Government’s Decree 210 on encouraging enterprises to invest in agriculture and rural development, projects using government bonds, a programme on solidifying schools and kindergartens in districts, and transport projects using the remaining capital from the National Roads 1A and 14 projects.

This year’s capital is also arranged for special projects with their investment decisions approved after March 31, 2016.

According to Dung, as of June 29, the ministry received reports from 53 out of the 56 ministries and central agencies and all the 63 cities and provinces on the progress of public investment capital disbursement.

Reports showed in the first five months of 2016, disbursement of State budget capital reached over 81.8 trillion VND (3.6 billion USD), equal to 32.6 percent of the target, while that of Government bond capital was more than 6.9 trillion VND or 18 percent of the goal.

Official development assistance (ODA), preferential loans and non-refundable aid the country has signed since 1993 totalled 75.7 billion USD, of which 22.6 billion USD needs to be disbursed in the coming time.

Approximate 21 billion USD in ODA and preferential loans is expected to be disbursed during 2016-2020, including 4.75 billion USD planned for this year. However, only 1.85 billion USD was disbursed in the first half of 2016.-VNA