Transport ministry short on counterpart ODA cash

The transport ministry said that after the ministry has to pay advance debts for group A projects using official development assistance (ODA) will lack 1.879 trillion dong of counterpart capital.
As for other projects, the remaining capital is 650.5 billion dong which is insufficient to repay total debt amount of some 2.357 trillion dong of the Development Assistance Fund (DAF), the Ministry of Finance and repay debts for completed construction works as instructed by the government.
Such difficulties in capital meant the transport ministry was not able to develop projects carried over from last year and temporarily suspended many projects. Additionally, the transport ministry could not realise new projects.
Thus, the transport ministry has recently proposed the prime minister assign the planning and investment ministry and the finance ministry to supplement counterpart capital in a bid to ensure actualisation pace of ODA projects. Also, the Ministry of Planning and Investment and the Ministry of Finance is proposed to allow the transport ministry to delay repayment of 400 billion of advance debt to the finance ministry; to temporarily repay the DAF 300 billion dong out of total debt amount of 686 billion dong. Furthermore, some 350.5 billion dong including 191.5 billion dong of advance loan of the finance ministry for other projects is arranged for projects which are transferred from the plan 2004.

 

Category: Finance