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Vietnam Today

20 years of ODA

Released at: 09:01, 08/08/2015

20 years of ODA

Vietnam has received $72 million in ODA from a range of bilateral and multilateral donors and other organizations.

by Quynh Nguyen - Doan Tran

More than 20 years ago a roundtable on official development assistance (ODA) to Vietnam was held in Paris, France, marking the start of cooperative relations between Vietnam and the international donor community.

Twenty years on and Vietnam has worked with over 50 bilateral and multilateral donors providing ODA and preferential loans for most sectors in the economy and in society, the “Attracting and Utilizing ODA in Vietnam: a 20 Year Review” symposium on August 7 heard.

Bilateral donors include the governments of Ireland, the UK, Austria, Poland, Belgium, Canada, Kuwait, Denmark, Germany, the Netherlands, South Korea, Hungary, Italy, Luxembourg, Malaysia, the US, Norway, Japan, New Zealand, Australia, Finland, France, the Czech Republic, Spain, Thailand, Sweden, Switzerland, China, and Singapore.

Multilateral donors include international financial institutions and funds such as the World Bank (WB), the International Monetary Fund (IMF), the Asian Development Bank (ADB), the OPEC Fund for International Development (OFID), the Kuwait Fund, the Saudi Fund, the Nordic Development Fund (NDF), and the Nordic Investment Bank (NIB).

Other international organizations and intergovernmental organization have also been involved, including the European Union (EU), the United Nations High Commissioner for Refugees (UNHCR), the Joint United Nations Program on HIV/AIDS (UNAIDS), the United Nations Development Program (UNDP), the United Nations Environment Program (UNEP), the Food and Agriculture Organization of the United Nations (FAO), the International Labor Organization (ILO), the World Health Organization (WHO), and many others.

Besides donors providing official development assistance to Vietnam there were more than 600 non-governmental organizations providing around $150 million to $200 million to support hunger eradication and poverty reduction, health, education and training, and the creation of livelihoods for people in rural and mountainous areas.

Although ODA accounts for only 4 per cent of GDP it represents a significant proportion of total investment from the State budget, of about 15 to 17 per cent.

ODA loans have amounted to approximately $72 billion over the past 20 years, which has led to Vietnam’s debt situation falling to an unsafe level, as feared by many experts.
 

  • TAGS
  • ODA
  • donor
  • World Bank Group
  • International Monetary Fund
  • Asian Development Bank
  • PEC Fund for International Development

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