As of Nov. 20, Vietnam had disbursed 5 percent more of its ODA capital than its targeted annual goal, the Ministry of Planning and Investment (MPI) reported.
An estimated 1.99 billion USD in ODA was disbursed, while the yearly target was 1.9 billion USD. With this progress, experts have predicted that ODA disbursement in 2009 is likely to reach 3 billion USD—a record amount for Vietnam.
Close management by the government and efforts made by ministries, branches and donors in accelerating implementation and disbursement played a key role in Vietnam ’s improved performance, according to the MPI.
In 2009, total ODA capital through signed agreements with donors is expected to reach 5.056 billion USD, including 4.822 billion USD in loans and 234 million USD in non-refundable aid, falling short of the 5.914 billion USD previously committed.
According to Ho Quang Minh, Director of the MPI’s Foreign Economic Relations, competition for ODA provision around the world is becoming more fierce in the context of reduced supply but increased demand. The fact that Vietnam was able to nearly secure all ODA donor commitments is still very advantageous to the country’s development.
It also showed Vietnam’s improved position in the world arena, as well as the development of the relations between Vietnam and international donors, he said.
Together with progress made in poverty reduction and hunger eradication, remarks by donors about Vietnam’s capacity for coping with crisis and being able to stand firm amidst the global economic downturn created a good foundation for the country to continue to receive strong support from donors during the country’s development and ODA attraction process, experts said.
Pundits said international donors will commit more than 6 billion USD in ODA for Vietnam in 2010 at the upcoming Consultative Group meeting on Dec. 3-4 in Hanoi./.