Vietnam has set ambitious growth targets and has significant demand for investment in infrastructure, green transition, and other areas. Thus unlocking official development assistance (ODA) and concessional loans has become increasingly urgent.
The plans aims to ensure full and timely repayment of public debt without affecting Vietnam’s sovereign credit rating, while continuing to restructure the Government bond portfolio in line with market conditions and development needs.
Vietnamese Prime Minister Pham Minh Chinh has called for the World Bank (WB)'s continued support and concessional loans targeting key infrastructure projects, including high-speed and urban rail systems, major seaports and airports.
Banks lent more than 480 trillion VND (18.88 billion USD) to economic entities in June, demonstrating the sector’s efforts in concretising the Government’s credit goal of 5-6% to the end of Q2.
Deputy Prime Minister Tran Luu Quang on March 27 stressed the Vietnamese Government’s determination to speed up the disbursement of official development assistance (ODA) and concessional loans.
The Prime Minister has assigned the Ministry of Planning and Investment to draft strategies and policies on development cooperation with foreign donors in order to improve the efficiency of using official development assistance (ODA) and concessional loans.
About 527.1 trillion VND (over 22.9 billion USD) in foreign official development assistance (ODA) and concessional loans will be allocated during the 2011 - 2025 period.
A project on water and flood management in the northern province of Vinh Phuc has had a significant role to play given the locality has been facing major inundation for many years, especially during the wet season.
The government has recently issued Decree No.56/2020/ND-CP on management and use of official development assistance (ODA) and concessional loans granted by foreign sponsors to Vietnam.
The ODA National Steering Committee held a meeting with donors in Hanoi on June 17 to seek solutions to speed up the disbursement of ODA capital and preferential loans, which has showed signs of slowing down in recent years.
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 south central province of Khanh Hoa has provided local fishermen with more than 440 billion VND (19.4 million USD) so far this year to support their offshore fishing activities.
Total official development assistance (ODA) and concessional loans committed for Vietnam was over 2.56 billion USD in the first half of 2016, surging by 61 percent year on year.
Six downgraded bridges will get a facelift in the near future with concessional loans of the Republic of Korean Government, according to the Ministry of Transport’s Project Management Unit No 2.
