Public investment disbursement speeds up

Ten out of 12 ministries and agencies have committed to completing the disbursement of foreign loans this year after adjusting down their capital plans, the Ministry of Finance has reported.

Public investment disbursement speeds up

Construction at North-South express way.

At a conference in Hanoi on October 12, head of the ministry's Department of Debt Management and External Finance, Truong Hung Long, said that over 4.2 trillion VND (182.6 million USD) in foreign loans were disbursed in September, up more than 558 billion VND month-on-month.
 

The disbursement of official development assistance (ODA) and preferential loans, however, remains low due to incomplete site clearance, slow project approval and bidding, and complaints about the bidding process.

Deputy head of the Ministry of Education and Training (MoET)'s Planning and Finance Department, Dinh Minh Tung, said that, as of September 30, the MoET's disbursement had met 39 percent of the target, up 18 percent against August.

Ministries and agencies were asked to partner with sponsors, agencies, and localities to deal with any difficulties, especially in major projects.

The Finance Ministry pledged to continue considering the disbursement of ODA and preferential loans a key task this year, and will discuss emerging issues with sponsors during the process.

(Source: VNA)