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 An ODA project in Hanoi. Photo: baodauthau.vn
Minh, also Head of the National Steering Committee for Official Development Assistance (ODA) and Preferential Loans, made the statement while chairing a meeting in Hanoi on April 26 to review projects funded by ODA and preferential loans.

In the first four months of this year, Vietnam signed agreements for a total USD 700 million of ODA and preferential loans. As of April 24, an estimated USD 410 million was disbursed.

This is the last year that Vietnam will receive preferential loans from the WB’s International Development Association. The global lender committed loans to 14 projects and programs in Vietnam worth USD 2.1 billion. After July 1, loans to Vietnam will be less preferential.

However, disbursement speed has been inconsistent, with delay seen in some projects, making it difficult for those projects to complete their goals if the disbursement deadlines are not extended. 

Speaking at the meeting, Minh said the government will utilize preferential loans by transferring them from slowly-disbursed projects to fast-progressing ones.

He asked agencies to work with the State Bank to complete preparations for projects for submission to authorities for approval, ensuring that negotiations with the WB are on schedule.

Source: VNA