Vietnam to have ODA use mechanism

Deputy Prime Minister Hoang Trung Hai has instructed the Ministry of Finance to quickly complete a financial mechanism, policy on the use of ODA capital and preferential loans to submit to authorized agencies for approval.
The Deputy PM is the head of the national steering board on official development assistance (ODA) and preferential loans.

The mechanism and policy must suit related regulations, position and ability of mobilizing these capital sources in the upcoming time, he added.
In the first six months this year, authorized agencies have positively worked to speed up disbursement of ODA and preferential loans as well as progress of projects using these sources.
However US$21 billion have yet to be disbursed as pledges and 14 projects have been carried out sluggishly.

By T. Quang – Translated by Hai Mien

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