illustration photo The Ministry of Agriculture and Rural Development (MARD) announced that it would pay back oficial development assistance (ODA) amounting to VND1.8 trillion ($78 million) since it “has no further use for it”, according to MARD Deputy Minister Nguyen Hoang Hiep. In 2017, the MARD signed project assistance but ended not using the entire amount until October 2019. The VND1.8 trillion is the sum of surplus from several projects which will be completed by the end of the year and no longer need more capital. “We have been implementing these projects but were only using parts of the assigned capital,” Hiep stated, adding that he believed the return of the surplus amount would not affect the ODA contract signed three years ago. However, the MARD also stated that there is still a need for such assistance for the 2021-2025 period, in which the ministry already planned with around VND144 trillion ($626 million) for the first 515 projects. A report from the Ministry of Finance (MoF) on August 26 recorded nine ministries that requested to return a total of VND3.7 trillion ($160 million), equalling 32 per cent of originally assigned ODA. The MARD’s proposed repayment accounts for nearly 50 per… Read full this story
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