Prime Minister Nguyen Xuan Phuc on October 29 ordered competent ministries, sectors, and localities to take stronger actions to speed up the disbursement of official development assistance (ODA) and foreign loans for 2020, as disbursement remains at a critically-low level.
Prime Minister Nguyen Xuan Phuc addresses the conference (Photo: VNA)
Hanoi (VNA) - Prime Minister Nguyen Xuan Phuc on October 29 orderedcompetent ministries, sectors, and localities to take stronger actions to speedup the disbursement of official development assistance (ODA) and foreign loansfor 2020, as disbursement remains at a critically-low level.
Chairing a video conference, the PM stressed the need to disburse the Government’sforeign borrowings as quickly as possible, as they are important resources forthe country’s development.
Foreign loans have totalled some 60 trillion VND (2.59 billion USD) this year,nearly 40 trillion VND of which was allocated to localities, the Governmentleader said, adding that capital disbursed in the first 10 months of this year wasjust 30 percent of the total funds.
The snail’s pace of disbursement was sparked by slow site clearance, inadequatereciprocal funds, and poorly capable contractors, the PM pointed out.
He asked local leaders to adopt more drastic measures, work to clarify theroles and responsibility of investors, and enhance coordination with ministriesand sectors.
Leaders must be responsible for performing their duties and must discipline anyorganisations or individuals hampering disbursement.
Meanwhile, ministries and sectors need to complete the legal framework and compileODA plans for the next five years in a more effective manner.
The Ministry of Planning and Investment and the Ministry of Finance are entrustedwith simplifying project approval and adjustment procedures, he said./.
Deputy Prime Minister Pham Binh Minh on June 29 urged Ho Chi Minh City to ask for the facilitation of the implementation of Metro Line No. 1 project in order to increase public disbursement for the locality.
While the disbursement of official development assistance (ODA) has seen progress, without drastic solutions, it will be difficult for ministries and sectors to achieve allocation targets, Deputy Minister of Finance Tran Xuan Ha has said.
The sudden appearance of the COVID-19 pandemic with complex and unforeseeable developments has seriously impacted business and production activities across the country, including projects funded by Official Development Assistance (ODA) capital and concessional loans.
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Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
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Prime Minister Nguyen Xuan Phuc addresses the conference (Photo: VNA) 
