ODA, foreign loan disbursement standing at just 7.5 pct.
Only 7.5 percent of official development assistance (ODA) and foreign loans have been disbursed since the beginning of the year according to the Ministry of Finance (MoF).
Hanoi (VNA) - Only 7.5 percent of official development assistance(ODA) and foreign loans have been disbursed since the beginning of the year accordingto the Ministry of Finance (MoF).
This rate is too low, Deputy Minister Tran XuanHa told a June 11 meeting between ministries and sectors on disbursement.
He proposed that ministries, sectors, andproject owners adopt more drastic measures to complete their tasks.
Truong Hung Long, director of the ministry’sDebt Management and External Finance Department, cited data from ministries andsectors in saying that, as of June 10, only 1.25 trillion VND (54.6 millionUSD) worth of ODA and foreign loans had been disbursed, equivalent to 7.53percent of the assigned estimate.
Only five out of 13 ministries and sectors havedisbursed public investment from ODA and foreign loans this year.
The MoF said the partial completion ofinvestment procedures for investment projects has resulted in slowdisbursement, together with the COVID-19 pandemic.
Many projects that have been allocated capitaland completed investment procedures, meanwhile, have been slow in site clearanceand resettlement.
To fulfil disbursement plans, Long stressed theneed for synchronous and drastic measures in the entire political system, theGovernment, ministries, sectors, and localities.
It is necessary to review the detailedallocation of estimated capital to each project, ensure the progress anddisbursement needs of each project, remove obstacles and difficulties inproject implementation and disbursement, and speed up disbursement forpotential projects and those that have completed investment procedures, bidding,and contract approval.
The MoF also suggested that the Ministry ofPlanning and Investment coordinate with relevant agencies in reviewing andevaluating public disbursement in the past, clearly identifying any difficultiesand obstacles and proposing solutions to address them./.
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Illustrative photo (Source: VNA) 
