Ministries and agencies directed to issue policies and mechanisms to put the outstanding funds to use.
Deputy Prime Minister Hoang Trung Hai has directed ministries and agencies to quickly issue policies to address the situation whereby ODA and preferential loans cannot be disbursed.
He has requested the Ministry of Finance to urgently complete and submit to the government policies and financial mechanisms for the use of ODA capital and preferential loans consistent with current regulations and to note the possibilities of mobilizing the funds in the future.
A recent government report showed that in the first six months of this year agencies and departments around the country have been very active in the advocacy, implementation, and disbursement of ODA capital and preferential loans. The disbursement pace, however, has still been considerably slower than in the same period last year.
There is $21 billion in ODA capital that has not been disbursed. Fourteen projects, especially urban railway projects in Hanoi and Ho Chi Minh City, are being deployed very slowly and creating concern among donors and the public.
Deputy PM Hai asked ministries, agencies and local authorities that have projects behind schedule to take steps to bring them back on track. Site clearance is a key problem that needs to be urgently resolved to implement projects on schedule.