Topic: ODA

Total loans for 16 sustainable development projects estimated at $2.53bln.

JICA loan of $448mln signed on July 4.

Localities facing difficulties in implementation procedures and other issues.

The Hanoi People’s Committee held a breaking ground ceremony on October 7 for the “Strengthening sustainable urban transport for Hanoi’s metro line No. 3 project”, with total investment of nearly $55 million coming from loans from the Clean Technology Fund (CTF), the Asian Development Bank (ADB), and reciprocal capital. The project will help Hanoi strengthen the development of a multi-modal public transport network.

The Ministry of Finance has sent an official dispatch to ministries, branches, and localities on accelerating the disbursement of foreign capital in 2022. The Ministry said disbursement of ODA and foreign concessional loan capital averaged only 15.48 per cent of the plan in the first eight months of this year, which is rather low. Average disbursement among localities was 11.5 per cent of the plan and among ministries and branches 22.94 per cent. Remarkably, six ministries and eight localities posted distribution rates of 0 per cent of the plan.

State President Nguyen Xuan Phuc held talks with Japanese Prime Minister Kishida Fumio on September 26 in Tokyo, as part of his visit to the country to attend the State funeral of late Prime Minister Shinzo Abe. The two leaders agreed to strengthen cooperation in post-Covid-19 economic recovery, boost links between the two countries, consider promoting strategic cooperation in priority areas such as providing new generation official development assistance (ODA) to Vietnam, and developing high-quality human resources.

As of the end of August, the Ministry of Transport (MoT) had disbursed 43.9 per cent of the public investment capital in its assigned plan. To the end of this year, it will need to disburse more than VND28 trillion ($1.19 billion). Ministry leaders have proposed speeding up disbursement for key projects and a number of ODA projects.

Stakeholders shared their thoughts on the investment potential the central city holds at the Da Nang Investment Forum 2022.