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Infrastructure, power projects lead to greater ODA disbursements

The accelerated construction of many big infrastructure and power projects has led to larger disbursements of official development assistance to Vietnam, the Vietnam Investment Review said on September 9.
The accelerated construction of many big infrastructure and powerprojects has led to larger disbursements of official developmentassistance to Vietnam, the Vietnam Investment Review said on September9.

The Ministry of Planning and Investment (MPI) reported thatdisbursement of official development assistance (ODA) and concessionalloans in this year’s first half reached 3.1 billion USD, including over 3billion USD worth of loans and about 84.48 million USD in grants.

Disbursement soared 41 percent up on the 2.2 billion USD released during last year’s corresponding period.

Thedisbursed sum included 1.088 billion USD from Japan InternationalCooperation Agency (JICA), 923 million USD from the Asian DevelopmentBank (ADB), 717 million USD from the World Bank, 110 USD million fromGerman government-owned development bank KfW, 67 million USD from KoreanEximbank and 90 million USD from the French Development Agency (AFD).

Amongmajor disbursements are a 250 million USD disbursement from the WorldBank’s Economic Management and Competitiveness Credit for VietnamProgramme, which is aimed at helping the country with economicmanagement reforms for higher productivity and competitiveness and theAFD’s support programme to respond to climate change in Vietnam.

“Notably,faster-paced construction of major transport infrastructure and energyprojects has contributed to this six-month ODA disbursement,” saidMinister of Planning and Investment Bui Quang Vinh.

According tothe MPI, some 105 million USD funded by JICA has been disbursed for theproject to build the second terminal at Hanoi’s Noi Bai InternationalAirport. Some 27 million USD has been spent on a World Bank-fundedproject to build traffic infrastructure in the Mekong Delta and 15million USD has been disbursed for the ADB-funded Ho Chi Minh City-DauGiay express way.

In the energy sector, 125 million USD has beendisbursed for JICA-funded projects including the O Mon thermal powerplant and power transmission grid for the Mekong Delta, as well as theNghi Son thermal power plant (37.4 million USD). Also within thissector, there were disbursements for the ADB-funded Mong Duong thermalpower plant (94 million USD), and the World Bank-funded powerdistribution efficiency project (72 million USD).

In mid-August,Prime Minister Nguyen Tan Dung clinched a decision on allocating anadditional 3.6 trillion VND (171 million USD) in counterpart-funding forODA projects. He also ordered central and local authorities to arrangeenough reciprocal funding for ODA projects next year, with the aim ofboosting disbursement of ODA nationwide.-VNA
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