Raising official development assistance is becoming easier as Vietnam benefits from the world recognising the country’s successful management of the aid and strong socio-economic policies, says the Ministry of Planning and Investment (MPI).
The first quarter of 2008 saw donors commit over US$369 million, representing an increase of 16 percent year on year. Of the figure, almost US$342.7 million come in as loans and almost US$26.4 million as grants.
Among major ODA projects is the construction of a northern coastal corridor running across the Greater Sub-Mekong Region, worth US$150 million of Asian Development Bank funding and US$75 million from a Japanese financial and banking programme.
The MDI’s External Economy Department reported that the second quarter will see a number of ODA signings, including several infrastructure projects worth US$1 billion with Japan, a US$10.8 million project on tourism human resource development with the European Union and a non-refundable aid of US$2.3 million for the Ho Chi Minh City Urban Development Capital Fund from the French Development Agency (AFD).
The country has attracted US$ 343 million in ODA over the past four months and this is expected to rise to US$2.2 billion by the end of the year, an increase of US$200 million over the previous year.
Vietnam has received ODA commitments for the five consecutive years. In the 2006-07 period alone, ODA commitments reached almost US$9.9 billion, half the amount expected for the entire 2006-10 period.
However, MPI warned agencies and local administrations against over-optimism and urged aid executives to strictly scuritinise the use of funding and ensure it is managed in a professional and sustainable way.
Among major ODA projects is the construction of a northern coastal corridor running across the Greater Sub-Mekong Region, worth US$150 million of Asian Development Bank funding and US$75 million from a Japanese financial and banking programme.
The MDI’s External Economy Department reported that the second quarter will see a number of ODA signings, including several infrastructure projects worth US$1 billion with Japan, a US$10.8 million project on tourism human resource development with the European Union and a non-refundable aid of US$2.3 million for the Ho Chi Minh City Urban Development Capital Fund from the French Development Agency (AFD).
The country has attracted US$ 343 million in ODA over the past four months and this is expected to rise to US$2.2 billion by the end of the year, an increase of US$200 million over the previous year.
Vietnam has received ODA commitments for the five consecutive years. In the 2006-07 period alone, ODA commitments reached almost US$9.9 billion, half the amount expected for the entire 2006-10 period.
However, MPI warned agencies and local administrations against over-optimism and urged aid executives to strictly scuritinise the use of funding and ensure it is managed in a professional and sustainable way.
VOVNews/VNA
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