Vietnam ODA disbursement meets 32% of targets in 9 months Quicker disbursement of ODA funds shows the government’s responsibility and capability in utilizing funds in the eyes of investors and donors. The disbursed amount of official development assistance (ODA) funds in Vietnam in the first nine months of 2020 stood at only VND26 trillion (US$1.12 billion), equivalent to 32.43% of the year’s estimate, requiring drastic measures to realize the government’s target. The information was mentioned at an online conference on October 14 discussing the disbursement progress of ODA funds in the January – September period. At the meeting, representative of the Ministry of Finance said the projects financed by ODA funds face much more severe impacts from the Covid-19 pandemic than domestic ones. This came by the fact that contractors were unable to mobilize experts, machinery and equipment from abroad. Moreover, changes in ODA policies, slow site clearance process, contractors’ limited capacity, disputes between project owners and contractors, are among notable issues preventing a faster ODA funds disbursement. General Director of the Debt Management and External Finance Department under the Ministry of Finance Truong Hung Long said with current disbursement rate, the target of disbursing the remaining VND40 trillion (US$1.72… Read full this story
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