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Vietnam considers ODA important capital source: Deputy PM

The Vietnamese Government continues to consider official development assistance (ODA) as an important capital source and allocate part of it for socio-economic development in the mid-term public investment plan, said Permanent Deputy Prime Minister Pham Binh Minh.
Vietnam considers ODA important capital source: Deputy PM ảnh 1At the meeting on September 30. (Photo: VNA) 

Hanoi (VNA) –The Vietnamese Government continues to consider official development assistance (ODA) as an important capital source and allocate part of it for socio-economic developmentin the mid-term public investment plan, said Permanent Deputy Prime Minister Pham BinhMinh.

Minh made the statement duringa meeting between the Government and six foreign development banks in Hanoi onSeptember 30 to discuss their recommendations about ODA, foreign preferentialloans and a draft Decree replacing the Government’s Decree dated May 25, 2020on the use and management of ODA and preferential loans provided by foreignsponsors.

Deputy Minister ofPlanning and Investment Tran Quoc Phuong said 2021 is the first year to performtasks in the mid-term public investment plan for the 2021-2025 period. Since late 2020 and especially mid-May, the COVID-19 pandemic has broken outagain in localities, thus affecting the progress of foreign capitaldisbursement.

Data from the FinanceMinistry showed that about 287.6 million USD of foreign capital was disbursed in the first nine months ofthis year, or 12.69 percent of the yearly capital plan.

Representatives from developmentbanks spoke highly of the Vietnamese Government’s efforts in the process ofinstitution building, project implementation and ODA disbursement. Some of themsuggested approving projects with regional connectivity and on a large scale ineach locality to achieve efficiency.

World Bank Country Director in Vietnam Carolyn Turk expressed her wish to cooperate with theVietnamese Government in big projects with greater impacts.

Vietnam considers ODA important capital source: Deputy PM ảnh 2Permanent Deputy Prime Minister Pham Binh Minh at the event. (Photo: VNA)

Minh said several lawsregarding ODA and public investment are being proposed for amendment.

The Vietnamese Governmentwill consider simplifying procedures while ensuring the efficiency of projects, hesaid, expressed his hope that six development banks and agencies, including the WB, ADB, JICA, KEXIM, AFD and KfW, would consider harmonisingtheir procedures with Vietnam’s ones.

About ODA mobilisation for2021-2025, Minh said the Vietnamese Government built priority areas in need ofODA and hoped that the banks will offer loans to projects that match Vietnam’sdevelopment goals in the period./. 

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