Vietnam’s disbursement of official development assistance (ODA) reached nearly US $1.3 billion in the first five months of this year, realizing 52.5% of the yearly plan, compared with around 40% in the same period recorded several years ago.
This was announced by Mr. Ho Quang Minh, Director of the External Economy Department under the Ministry of Planning and Investment, on the sidelines of the 3rd Aid Effective Forum recently held in Ha Noi.
The quicker ODA disbursement was attributed to smooth coordination between Vietnam’s sectors with donors, the enhanced capacity of management official, and improved disbursement procedures, Mr. Minh said.
However, Vietnam’s disbursement rate is lower than the world’s average, he noted. It takes several years for the country to disburse ODA for large projects, or a rate of 30-50% slower than the world’s average.
Vietnam should, in the coming time, improve ODA-related legal documents, including those relating to procedure harmonization and simplification, and ODA management and attraction, he said.
All should aim at increasing ODA effectiveness when the aid structure is changing: the proportion of less preferential loans is increasing, and that of non-refundable aid and preferential aid is decreasing./.