Prime Minister Nguyen Tan Dung has signed a decision to approve a project to attract, manage and use ODA capital and other preferential loans from donors during the 2011-2012 period.

Project costs will be paid through the Ministry of Planning and Investment’s budget, according to the State Budget Law.

The project illustrates the Vietnamese Government’s efforts to comprehensively define Party and State guidelines and policies for attracting, managing and using ODA and other preferential loans in the country's new context as a middle-income developing nation.

The three-part project includes creating policies for revamping institutions, and managing and implementing activities related to attracting and disbursing ODA and preferential loans, aiming to increase the effectiveness of these capital sources to support the national five-year strategy for 2011-2015 and the ten-year socio-economic development strategy for 2011-2020./.