The Ministry of Planning and Investment (MPI) held a forum in Hanoi on June 3 to discuss ways to raise the efficiency of ODA and its role in the sustainable socio-economic development of Vietnam.

Ho Quang Minh, Director of the Foreign Economic Relations Department under the MPI said Vietnam is working out a project to attract, use and manage ODA capital effectively for the 2011-2015 period.

He said the project would create favourable conditions for the private sector access to ODA with preferential and less-preferential interest rates, especially through public-private partnership, for the national socio-economic development in the principle of sharing benefits and risks.

Deputy Minister of Planning and Investment, Cao Viet Sinh, said Vietnam continued to take the lead in implementing initiatives to raise the efficiency of ODA at regional and international forums, under the Paris Declaration and Hanoi Core Statement on Aid Effectiveness.

According to the MPI, there are currently 51 donors in Vietnam, including 28 bilateral and 23 multilateral donors, who contributed 3-4 percent of Vietnam’s GDP during the 2006-2010 period. Up to 53 percent of them operate in agriculture and rural development while the remaining 46 percent work in State management.

Over the past five years, donors have pledged a total of 31.7 million USD in ODA to Vietnam, up 21.5 percent from the previous five-year period.

During this period, the disbursed capital reached 13.8 billion USD, a rise of 17 percent, which was used for developing socio-economic infrastructure, poverty reduction, institutional and human resource development as well as coping with climate change./.