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Foreign ODA and concessional loans reach 15.5% of target

Disbursement of foreign official development assistance (ODA) and concessional loans has been slow, achieving only 15.48% of the target, the Ministry of Finance reported.

The average disbursement rate stands at 11.5% and 22.94% for localities and ministries, respectively. Of them, six ministries and eight localities have yet to disburse the ODA and concessional loans.

Besides, the ministry reported it received proposals for ODA and concessional loan payment, which totaled VND6,827 billion in 2022, from 17 ministries and localities.

Sluggish disbursement has affected the socio-economic development goals and heads of ministries and provinces should be held responsible, the ministry said.

Thus, it ordered localities and ministries to report on the status of projects they managed, identify problems and propose solutions to the slow disbursement before October 10.

It also urged heads of ministries and provinces to boost the disbursement progress of public investment from foreign capital in 2022 and send the Ministry of Planning and Investment proposals in case they cannot meet the disbursement plans or need more capital.

The Government, on September 15, issued Resolution 124/NQ-CP, whereby the State aims for the disbursement rate of the state budget investment capital to reach at least 95% for domestic and foreign capital.

Source: Saigon Times

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