Deputy Prime Minister Hoang Trung Hai has said that the Government of Vietnam will direct relevant ministries, agencies and localities to speed up the implementation and disbursement of Official Development Assistance (ODA) funded projects relating to transport.

The Deputy PM delivered the statement on June 21 at a Hanoi-based meeting to review the performance of transport ODA projects funded by the World Bank (WB) and the Asian Development Bank (ADB).

He elaborated two concrete solutions to the matter: prioritising disbursement of corresponding capital for critically important projects and restructuring existing projects for more effective implementation.

The meeting comes at a time when key transport ODA-fuelled projects are reported to be falling behind schedule, triggering more difficulties in disbursement as input prices increase, according to representatives from WB and ADB.

The Ministry of Planning and Investment, the organiser of the meeting, suggested the Ministry of Transport takes a deeper look at the existing projects to make adjustments to capital allocation which are appropriate to the scales of the projects.

In addition, governing bodies and project management units should coordinate with sponsors to design action plans, the organiser added.

Transport is said to play a pivotal role in enhancing Vietnam’s competitiveness. Forty percent of ADB and 18 percent of the WB’s total ODA for Vietnam goes to transport projects.-VNA