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ODA constitutes important part of Viet Nam's public investment plan

VGP – Deputy Prime Minister Pham Binh Minh reiterated official development assistance and concessional loans constitute an important part of Viet Nam’s public investment plan.

October 01, 2021 10:56 AM GMT+7

Deputy Prime Minister Pham Binh Minh (R) meets with representatives of six development banks to discuss ways to accelerate ODA projects, Ha Noi, September 30, 2021 - Photo: VGP

Pham made the above statement at his working session with representatives of the World Bank, the Asian Development Bank, the Japan International Cooperation Agency, the Export-Import Bank of Korea, the French Development Agency, and the German Development Bank in Ha Noi on September 30.

While Vietnamese Government has made efforts in simplifying procedures and ensuring the efficiency of projects, Pham expressed his hope that the six development banks would consider harmonizing their procedures to speed up the implementation of ODA projects.

The disbursement rate of ODA projects was low in the first nine months, mainly due to prolonged COVID-19 outbreaks in dozens of localities.

Data from the Finance Ministry showed that about US287.6 million of foreign capital was disbursed in the first nine months of this year, or representing 12.69 percent of this year’s plan.

Representatives from development banks spoke highly of the Vietnamese Government’s efforts in the process of institution building, project implementation and ODA disbursement. Some of them suggested approving projects with regional connectivity and on a large scale in each locality to achieve efficiency.

World Bank Country Director in Viet Nam Carolyn Turk expressed her wish to cooperate with the Vietnamese Government in big projects with greater impacts./.

By Huong Giang