Covid-19 slows down Vietnam’s ODA disbursement

24-Oct-2020 Intellasia | DtiNews | 6:02 AM Print This Post

Vietnam’s official development assistance (ODA) disbursement in the first nine months of this year accounted for just 24.8 percent of the target due to being impacted by Covid-19.

According to Nguyen Duc Hai, Chair of the National Assembly’s (NA) Finance and Budget Committee, this year, Vietnam’s total state budget revenues were estimated at VND1,323 trillion (USD57.2 billion), down 12.5 percent against the initial year target. The fall is attributed to the impact of Covid-19.

The pandemic has also affected the pace of many projects in Vietnam, leading to the country’s slow ODA disbursement, Hai added.

He noted that this year was the first time that ministries and agencies paid back ODA. For instance, the Ministry of Agriculture and Rural Development (MARD) returned VND1.8 trillion (USD78 million) in official development assistance because since it “had no further use for it”.

The VND1.8 trillion is from several projects which will be completed by the end of the year and no longer need more capital, said MARD deputy minister Nguyen Hoang Hiep.

A report from the Ministry of Finance (MoF) issued by late August said that nine ministries announced a return of up to VND3.7 trillion (USD160 million), equaling 32 percent of the originally assigned ODA.

The MARD’s proposed repayment accounts for nearly 50 percent followed by the Ministry of Natural Resources and Environment’s proposal to return VND330 billion (USD14.5 million).

http://dtinews.vn/en/news/017004/70558/covid-19-slows-down-vietnam-s-oda-disbursement.html

 

Category: Economy, Vietnam

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