PM: Vietnam has disbursed only 70 percent of pledged ODA

By    June 3, 2016 | 08:28 am GMT+7

Vietnam has disbursed only 20 percent of the state budget, said Prime Minister Nguyen Xuan Phuc yesterday at a meeting with his cabinet.

“It is unacceptable to leave the money unused,” said Prime Minister.

The government has disbursed about 71 percent of ODA funds in the first five months of this year, which translates into $22 billion left unused, said minister Mai Tien Dung, chief of the government office.

He added $2.15 billion must be used this year, the rest of the funds will be disbursed in several tranches until 2020.

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Prime Minister Nguyen Xuan Phuc in a meeting with his cabinet on Thursday. Photo by VGP/ Quang Hieu

The Prime Minister asked the Ministry of Planning and Investment to work closely with the State Bank, the Ministry of Finance and other related authorities to draw up a plan to raise funds from both domestic and foreign sources for socio-economic development projects.

The Vietnamese government is resolutely determined to effectively use ODA funds to invest in infrastructure, including transport and energy projects, to meet rising demand as the economy expands.

 
 
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