During a teleconference held by the Finance Ministry in Hanoi, Dung said disbursement of ODA and foreign preferential loans has failed to meet estimate since 2016.

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Under the 2016 – 2020 public investment plan, the total ODA and foreign preferential loans will reach VND 360 trillion (USD 15.6 billion). By late 2019, more than VND 244 trillion will be disbursed for the 2016-2019 period.

Head of the Finance Ministry’s Department of Debt Management and External Finance Truong Hung Long said over 60 projects still lack a combined capital of more than VND 34 trillion.

He mentioned obstacles regarding investment, relending, expense control and capital withdrawal procedures.

The Finance Ministry suggested that the Government assign the Ministry of Planning and Investment (MPI) to work with ministries and agencies to build a new decree on ODA and preferential loan management, and simplify procedures to increase capital annually.

The MPI was also advised to report to the Prime Minister about the disbursement of VND 60 trillion assigned by the legislature.

In order to accelerate disbursement, efforts of ministries, agencies, investors and sponsors is needed, Dung added.

Source: VNA