ODA loan disbursement expected to hit US$25-30 billion in 2016-2020

Total official development assistance (ODA) and preferential loans undisbursed for projects signed during the phase of 2011-2015 are about US$22 billion, according to a project approved by the Prime Minister on effective attraction, management and use of ODA and foreign loans.
 
Basing on the progress of the signed projects, the total disbursed fund in 2016-2020 is expected to near US$25-30 billion averaging US$5-6 billion a year, increasing 14 percent over the previous five year phase and accounting for 55-66 percent of total investment and development capital raised abroad.
 
One of the crucial missions in the upcoming five years is to complete and open for service these projects on schedule to ensure commitments with foreign creditors and meet the country’s socioeconomic development.
 
Besides there should have policies and measures to attract, manage and use the above funds effectively.
 
Insufficient reports by ministries, central and local agencies show that Vietnam needs a total of about US$39.5 billion ODA and preferential loans for development in the phase of 2016-2020.
 
The largest capital demand concentrates in fields such as transport, urban development, agricultural and rural development, environment, education and training, health, science and technology.

By Phan Thao – Translated by Hai Mien

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