Gov't orders faster disbursement of ODA, foreign concessional loans
VGP – The Government has urged ministries, agencies and localities to speed up disbursement of ODA and foreign concessional loans as the disbursed volume only accounted for 0.99 percent in the first quarter this year.
The Government orders faster disbursement of ODA, concessional loans
The low disbursement rate in the reviewed period was mainly due to the fact that several ministries, agencies and localities failed to display high political determination while site clearance remained slow.
In addition, rising prices of construction materials like iron and steel, stone, sand and cement put brake on the progress of projects using ODA and concessional loans.
As the COVID-19 pandemic has been under control nationwide, the Government considers accelerating disbursement of public investment capital, including ODA and concessional loans a vital solution to economic recovery.
From that perspective, the Government ordered leaders of ministries, agencies and localities to further uphold their responsibility, promptly review and handle bottlenecks related to the disbursement progress.
Ministries, agencies and localities have to develop concrete disbursement plan for each of projects using ODA and concessional loans, assign a leader to oversee each project, and regularly organize meetings with relevant agencies to timely detect and settle emerging issues.
The Government tasked the Ministry of Planning and Investment to submit a draft decree amending and supplementing Decree No. 114/2021/ND-CP dated December, 2021 on management and use of ODA and concessional loans.
The renewed decree need to further simplify procedures on disbursement of ODA and concessional loans, and enhance decentralization of powers in managing and using ODA and concessional loans./.
