A railway bridge project using ODA capital - Illustrative image (Source: VNA)
Hanoi (VNA) – The Prime Minister approved a project on orientations to attract, manage and use official development assistance (ODA) and preferential loans from foreign donors between 2016 and 2020.

The project aims to realise the Party’s and State’s policies on attracting, managing and using the loans to implement the 2011-2020 socio-economic development strategy and the 2016-2020 socio-economic development plan.

It includes strategic orientations and synchronous measures to better mechanisms and increase the management capacity of ODA and preferential loans, which will help the country utilise them effectively and attract more funds after 2020.

The project will act as a foundation for ministries and sectors to mobilise and use the loans, while helping donors build development cooperation programmes with Vietnam at the regional, national, ministerial and local levels.

In the next five years, Vietnam will focus on completing ODA projects and programmes on schedule so it can meet its socio-economic development requirements.

The country prioritises attracting ODA and preferential loans to build synchronous and modern infrastructure; make socio-economic and cultural development policies, improve the quality of State management and human resources, protect the environment, adapt to climate change and implement its green growth strategy.

The 2011-2015 project proved effective, as it contributed to implementing the 2011-2015 socio-economic development plan, as well as enhancing the relationship between Vietnam and donors.-VNA