3:26:33 PM | 7/8/2005
Vietnam is striving to reach total official development assistance (ODA) loans disbursed of around USUS$11 billion between 2005-2010 in order to maintain high economic growth in the period, according to the Ministry of Planning & Investment (MPI).
The forecast amount of disbursed ODA loans in the 2005-10 will mainly come from commitments of international donors for Vietnam in the 2001-05, which totalled US$13.6 billion (disbursed only US$6.7 billion from 2001 until now), the MPI said.
According to the MPI’s estimates, there will be around US$1.7 billion worth of ODA loans put into use in 2005 (donors pledged US$3.44 billion for this year), US$2 billion in 2006 and US$2.2-2.3 billion annually for the following years.
MPI also predicted that ODA commitments by international donors for the country would gradually decrease in the coming years to some US$2.8 billion in 2010. Moreover, the ratio of Vietnam’s reciprocal capital will be higher, maybe over 30 per cent in 2010. This is very high pressure on the state coffer, the ministry said.
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