PM orders acceleration of ODA, preferential loan disbursement

Deputy Prime Minister Pham Binh Minh on April 8 signed the Prime Minister’s dispatch requesting the acceleration of disbursement of foreign official development assistance (ODA) and preferential loans.
PM orders acceleration of ODA, preferential loan disbursement ảnh 1 Deputy Prime Minister Pham Binh Minh makes a field trip to the construction site of HCMC's metro line No 1. (Photo: SGGP)

In the document, the PM noted that as the Covid-19 pandemic is basically put under control, the task of promoting the disbursement of public investment, including foreign ODA and preferential loans, is considered one of key solutions to economic recovery and socio-economic development in 2022.

However, the ODA disbursement in 2022 remains slow, thus reducing the efficiency of public investment use as well as the attraction of other social resources, wasting resources, and affecting post-pandemic economic recovery momentum, said the dispatch, citing a report of the Ministry of Finance that as of March 31, the disbursement of ODA from the central budget reached only 0.99 percent of the yearly plan assigned by the PM.

Therefore, to meet the plan, the Prime Minister asked ministries, sectors and localities to consider ODA disbursement one of the core political missions of 2022 and the following years, strengthen discipline, and uphold the responsibility of the leaders.

It is necessary to intensify coordination between foreign donors and ministries and localities in drawing up detailed disbursement plans for each ODA project, especially key ones with large capital, and at the same time step up land clearance and focus on solving difficulties related to land and resources.

The Finance Ministry was required to continue reviewing regulations to simplify procedures and shorten the time to control spending and withdraw capital from sponsors.