PM chairs video conference on ODA disbursement

	UK’s former PM ready to help Vietnam attract high-quality investment
	PM receives leaders of Vietnam Urban Planning and Development Association
	PM: Vietnam does not devaluate currency, urging US to take objective view

Video conference on ODA disbursement. Photo: VGP

The event was attended by leaders of ministries, agencies and localities.

Accelerating disbursement of ODA loans and public investment capital is the key to economic recovery amid ongoing swift and complicated evolution of the COVID-19 pandemic across the globe.

Tran Quoc Phuong, Deputy Minister of Planning and Investment said January-October disbursement of ODA loans is better than that of the same period last year but more efforts are required to speed up progress of ODA projects.

Disbursement rate of ODA loans

The disbursement rate rose from 20.79% in August to 28.73% in September and 30.75% in October, according to Phuong.

As of October 31, the disbursed volume was estimated at VND 18,089 billion in the reviewed period compared to VND12,376 billion of the same period last year, Phuong added.

Despite encouraging signals, many prolonged obstables have not bee fixed effectively such as site clearance and harmonization of between the country and donors.

Almost all ministries, agencies and localities pledged to increase their disbursement rate to 95-100% by the end of this year.

In a recent interview, World Bank Country Director Carolyn Turk said there are several reasons leading to slow implementation of World Bank funded projects, including institutional and implementation challenges in different phases of the project.

Reasons for slow implementation and disbursement include (i) approval processes which, for example, lead on average taking projects 10 months from approval to effectiveness and nearly 19 months from approval to first disbursement, (ii) delays in signing on-lending agreements between provinces and MOF, (iii) limited project readiness for implementation, for example, because of the reluctance to commence procurement processes before funds are secured”./

ChildFund Sport for Development program brings positive changes for over 11,560 youth Over 11,560 youth in Hoa Binh province and Hanoi capital city have benefited from ChildFund Sport for Development program.

PM calls for emergency aid to flood victims in central region Prime Minister Nguyen Xuan Phuc has asked relevant units to swiftly mobilise all forces in a bid to overcome the aftermath of the severe flooding ...

Deputy PM: United Nations to remain as lighthouse for multilateralism Deputy Prime Minister, Foreign Minister Pham Binh Minh made the statement at a ceremony held in Ha Noi on Friday to mark the 75th founding ...