Deputy Prime Minister Pham Binh Minh has requested improving the effective use of official development assistance (ODA) and preferential loans to ensure the safety of public debts.
Nhat Tan bridge funded by Japanese ODA (Source: VNA)
The Deputy PM, who is also head of the National Steering Committee for ODA and Preferential Loans, asked ministries and agencies to comply with the government’s Decree No.16/2016/ND-CP dated March 16, 2016 on ODA management and use and a scheme on attracting, managing and using ODA and preferential loans between 2016 and 2020.
Qualified projects and programmes will be added into the annual and mid-term investment plans, ensuring Vietnam’s commitments involving site clearance, compensation, human resources and sufficient capital.
To accelerate the negotiations, signing, approval and implementation of projects, the Deputy PM asked the Ministry of Planning and Investment to work with the Finance Ministry and relevant ministries and agencies to issue a Circular guiding the implementation of Decree No.16, as well as report to the Prime Minister on any existing obstacles throughout the process.
The Finance Ministry will promptly fine-tune the government’s decree about on-lending for local authorities and a draft decision about on-lending programmes and projects while determining a safety level for ODA and preferential loans.
He also urged for increased monitoring over project appraisal and approval. The State management agencies were required to convene periodic meetings with donors to review the implementation.