PM's directive on effective management and use of foreign loans
The Prime Minister has recently issued Directive No. 03/CT-TTg on the implementation of the National Assembly Standing Committee’s Resolution No. 582/NQ-UBTVQH14 on a number of tasks and solutions to continue accelerating the implementation of policies and laws on management and use of foreign loans.
Hanoi (VNA) - The Prime Minister has recently issued Directive No.03/CT-TTg on the implementation of the National Assembly Standing Committee’sResolution No. 582/NQ-UBTVQH14 on a number of tasks and solutions to continueaccelerating the implementation of policies and laws on management and use offoreign loans.
Based on the evaluation of the results of the implementation of policies andlaws on the management and use of foreign loans, tasks and solutions set out inthe Resolution, the Government leader instructs the Ministry of Planning andInvestment (MPI) to continue completing the Law on Public Investment and reportit to the PM and the Government, before it is submitted to the 14th NationalAssembly for approval at the upcoming 7th session.
In addition, the MPI is asked to develop the five-year and annual publicinvestment plans for official development assistance (ODA) capital andpreferential loans from foreign donors, report the plans to the authorisedlevels for approval, organise the implementation in line with the progressstipulated in the Law on Public Investment, and examine the disbursementprogress and efficiency of projects using foreign loans in accordance withprovisions of the law.
The PM also asks the MPI to coordinate with the Finance Ministry (MoF) andother agencies to guide the implementation of orientations for the attraction,management and use of ODA capital and preferential loans from foreign donors inthe 2018-2020 period, vision to 2021-2025.
The MoF is requested to complete the building of a directive on enhancing theuse of ODA capital and foreign preferential loans for development investmentand not for regular spending, while continuing to finalise the orientations forthe attraction, management and use of ODA capital and preferential loans in the2021-2025 period in accordance with the 10-year socio-economic developmentstrategy (2021-2030) and the five-year socio-economic development plan(2021-2015).
The PM asks ministries, sectors andlocalities to carefully select projects for the use of foreign loans, ensuringthe efficiency of use and debt repayment capacity on the basis of improving thequality of project documents and meeting well with Vietnam’s reciprocalconditions. - VNA
The Standing Committee of the National Assembly (NA) has recently issued a resolution on promoting law enforcement on the management and use of foreign loans.
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Illustrative image (Source: internet)
