ODA disbursement issues of first metro line project need to be removed

SGGP
The People’s Committee of HCMC has proposed Deputy Prime Minister Pham Binh Minh to chair a working session on defining the value of the rest of ODA (official development assistance) loan which will be allocated from the Central budget for the Metro Line No 1 project in HCMC, according to the Office of the municipal People’s Committee on March 22.
ODA disbursement issues of first metro line project need to be removed ảnh 1 The done work volume of the metro line No. 1 reaches 82.5 percent. (Photo: SGGP)
The meeting is expected to be participated by leaders of ministries of Finance, Planning and Investment.
On December 31, 2020, the HCMC government submitted a report on extending Loan Agreement VN11-P7 of the first metro line to the Government Office. Accordingly, the municipal People’s Committee collected opinions from ministries of Finance, Planning and Investment and proposed the Prime Minister and the Government to calculate the value of the ODA capital of the project.
The city’s authority hoped that the assessment would be promptly carried out, difficulties and obstacles in the disbursement of ODA loans and the volatile exchange rate between the Vietnamese dong and the Japanese yen to be resolved to speed up the public investment disbursement.
The ODA capital allocated for the project from the State budget that has not been disbursed yet was VND 2,185 billion (US$94.6 million) in 2020 and over VND2, 484 billion (US$123.4 million) in 2021.
Currently the done work volume of the metro line No. 1 linking Ben Thanh in district 1 to Suoi Tien Theme Park in Thu Duc City reaches 82.5 percent. Investors and consulting units have cooperated with each other to boost up the construction progress to ensure the installation will be completed in 2021.

By Quoc Hung – Translated by Kim Khanh

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