WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Construction
Vietnam ODA disbursement meets 32% of targets in 9 months
Ngoc Mai 09:08, 2020/10/15
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.

 Overview of the meeting. Source: VGP. 

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 billion) in ODA funds for the rest months of the year remains a huge challenge.

However, as public investment is a key measure to boost economic growth during the Covid-19 pandemic, a faster disbursement progress of public funds, including ODA, is a must, stated Mr. Long, adding this proves the Vietnamese government’s responsibility and capability in utilizing funds in the eyes of investors and donors.

In late August, Prime Minister Nguyen Xuan Phuc warned officials would face disciplinary actions if their ministries and localities fail to realize their respective disbursement targets of public investment funds for this year.

The government targets to disburse the full amount of VND630 trillion (US$27.26 billion) to aid economic recovery, and the progress as of September stood at 57.15% of the target. 

RELATED NEWS
TAG: Vietnam ODA Public investment covid-19 coronavirus nCoV pandemic economic growth donors investors
Other news
20:25, 2025/02/18
Hanoi greenlights road linking Gia Binh Airport
The road construction project is in line with the city's general planning guidelines and ensures connectivity with existing transportation networks outlined in approved planning schemes.
18:07, 2025/02/14
Lao Cai, Hanoi, Haiphong Railway Project submitted to National Assembly
The line is expected to boost socio-economic growth along the Lao Cai-Hanoi-Haiphong corridor, improve national and international rail links, and support industrialization and modernization.
18:44, 2025/01/30
Master urban planning to lift Hanoi into new era: Expert
Hanoi’s new planning frameworks will serve as a critical foundation for developing policies, action plans, and investment projects that drive economic and social progress.
05:47, 2025/01/27
Hanoi Hanoi to extend cashless parking pilot until June 30
An additional 191 streets and roads in Hanoi were temporarily approved for parking at the end of last year.
22:20, 2024/12/27
Hanoi to rent nearly 900 sidewalks next year
The number of streets approved by the city's authorities for on-street parking is 234 as of December 16, 2024.
15:13, 2024/12/27
Quoc Oai District breaks ground on industrial clusters
The industrial clusters have a total investment of US$35.7 million.