ODA Disbursement in First Five Months Lags behind Target
Vietnam between January and May this year fulfilled just 30 per cent of the 2006 Official Development Assistance (ODA) disbursement plan, valued at US$545 million, equal to the same period of last year, but lower than the year’s set target, according to the Ministry of Planning and Investment.
Of the total disbursed amount, around US$461 million came from loans, and the rest was non-refundable aid.
In the period, Vietnam’s total value of signed ODA agreements was estimated to reach some $1.33 billion, including $1.22 billion from loans and the remaining $103 million from non-refundable aid.
Japan is now the second largest world economy and Vietnam's largest ODA donor with a total pledged value of $797.8 million so far this year.
During the 2006-2010 period, the Ministry of Finance (MoF) plans to mobilize $17 billion of ODA, $21-22 billion from foreign direct investment (FDI), $6-7 billion from indirect foreign investment and commercial loans and some $1 billion from non-refundable aid.
According to government sources, Vietnam will take several active measures to mobilize foreign capital in the coming time, such as actively finalizing the legal system and enhancing the usage and management of ODA.
The MoF forecasts that Vietnam’s foreign debts would reach 37.2 per cent of GDP in 2010.
Investment
Vietnamese
