Vietnam Endeavors to Efficiently Use ODA in Five Years

Vietnam’s Ministry of Planning and Investment (MPI) has recently outlined a detailed plan for the efficient use of official development assistance (ODA) in order to ease the criticism over the current ineffective use of the sources.

 

Specifically, the plan focuses on ODA use, lists sectors given priority to receive ODA, and policies and measures to raise the effectiveness of ODA use.

 

Under the plan, Vietnam will spend the majority of ODA it receives in the five-year period to boost sustainable economic growth and reduce poverty.

 

As the MPI’s estimation, international donors will pledge a combined ODA of between $16-18.2 billion for Vietnam in the next five years; however, ODA funds will greatly depend on local fulfillment to the donors.

 

In fact, Vietnam will need US$11 billion in ODA in the five-year period to realize its growth targets, said the ministry.

 

In an attempt to achieve socio-economic goals set for the next five years, Vietnam should attract a total ODA of US$10.9 billion in the five-year period with an annual disbursement of US$2.2 billion, affirmed the MPI, revealing that the yearly non-disbursement will be added to ODA of the following year.

 

Vietnam is one of the world’s biggest ODA country recipients. International donors pledged a record amount of US$3.748 billion in ODA to the country for 2006, much higher than loans of US$3.438 billion pledged last year.
VoV, Vietnam Panorama