ODA commitment for VN sets new record
VGP – The new ODA commitment of over US $8 billion for Việt Nam reflects strong confidence of foreign donors given to the Vietnamese Government.
The Vietnamese Government commits to closely work with foreign donors to supervise the process of ODA disbursement for the best outcomes, says Minister of Planning and Investment Võ Hồng Phúc (center) at the Consultative Group Meeting 2009, Hà Nội, December 4, 2009 – Photo: VGP
The amount of ODA provision was made public on December 4 when the Consultative Group (CG) Meeting wrapped up in Hà Nội.
The World Bank (WB), Việt Nam’s biggest sponsor, pledged to supply US $2.498 billion while the Asian Development Bank (ADB) offered over US $1.479 billion. Japan remains the largest ODA donor country with US $1.64 billion.
Foreign donors vowed to provide Việt Nam with over US $8.603 billion in 2010, of which around US $1.4 billion is non-refundable aid.
Amidst the global financial crisis and rare ODA provision, the record-high ODA reflects rising confidence of foreign donors in the strong commitments and efforts, made by the Vietnamese Government, for improving investment climate and ODA disbursement.
The source of ODA will help Việt Nam better its infrastructure, reduce poverty, pursue administrative reforms, protect environment, respond to climate change and achieve sustainable economic growth.
The Vietnamese Government will shake hands with foreign donors to closely supervise the process of ODA disbursement and make full use of the valuable resource, said Mr. Võ Hồng Phúc, Minister of Planning and Investment.
By Hương Giang