Vietnam to work effectively with ODA donors

14:18 | 03/03/2015 Economy

The Prime Minister has outlined tasks to improve the efficiency of cooperation between Vietnam and donors of official development assistance (ODA) and preferential loans.

Vietnam to work effectively with ODA donors

He requested the Ministry of Planning and Investment to work with the World Bank (WB) to prepare an in-depth report on the status of Vietnam’s investment and business climate, specifying any existing drawbacks, sectors in need of reform, and recommended steps to help Vietnam meet the ASEAN 6 standards.

The Ministries of Transport, Planning and Investment, Finance and other agencies concerned have been assigned to work with the WB to commence the Dau Giay – Phan Thiet highway project under the public-private partnership model without delay.

Also in collaboration with the WB, the State Bank, the Ministry of Agriculture and Rural Development, and the Ministry of Planning and Investment are to design a project on rural development in response to climate change in the Mekong Delta.

The Ministry of Planning and Investment (MoPI) is responsible for providing the WB with Vietnam’s socio-economic development plans over the next 5 -10 years and working on the long-term Vietnam 2035 Report.

The PM called attention to the economic use of ODA and preferential loans, especially those used in technical support, partly by restricting working trips abroad and pouring the majority of the sum into project components.

The above tasks will be monitored and reported to the PM and donors by the MoPI.

According to the Office of the National Steering Committee for ODA and Preferential Loans, donors awarded over 4.3 billion USD in grants to Vietnam in 2014, including more than 4.16 billion USD in ODA and concessional loans and 202.05 million USD in non-refundable aid.

The amount of disbursed ODA and preferential loans neared 5.6 billion USD, including a 5.25 billion USD in refundable aid and 350 million USD in non-refundable aid.

Of major donors, Japan disbursed the most assistance with over 1.77 billion USD, followed by the WB with just over 1.3 billion USD and the Asian Development Bank with 1 billion USD.

Source Vietnam +