Prime Minister Nguyen Xuan Phuc addresses the conference (Photo: VNA)Hanoi (VNA) - Prime Minister Nguyen Xuan Phuc on October 29 orderedcompetent ministries, sectors, and localities to take stronger actions to speedup the disbursement of official development assistance (ODA) and foreign loansfor 2020, as disbursement remains at a critically-low level.
Chairing a video conference, the PM stressed the need to disburse the Government’sforeign borrowings as quickly as possible, as they are important resources forthe country’s development.
Foreign loans have totalled some 60 trillion VND (2.59 billion USD) this year,nearly 40 trillion VND of which was allocated to localities, the Governmentleader said, adding that capital disbursed in the first 10 months of this year wasjust 30 percent of the total funds.
The snail’s pace of disbursement was sparked by slow site clearance, inadequatereciprocal funds, and poorly capable contractors, the PM pointed out.
He asked local leaders to adopt more drastic measures, work to clarify theroles and responsibility of investors, and enhance coordination with ministriesand sectors.
Leaders must be responsible for performing their duties and must discipline anyorganisations or individuals hampering disbursement.
Meanwhile, ministries and sectors need to complete the legal framework and compileODA plans for the next five years in a more effective manner.
The Ministry of Planning and Investment and the Ministry of Finance are entrustedwith simplifying project approval and adjustment procedures, he said./.
VNA
