The Vietnamese Ministry of Finance, on October 8, held an online briefing on the disbursement of public investment capital by the national government from foreign loans during the January - September period.

Vice Chairman of the Da Nang People's Committee Ho Ky Minh was amongst the participants.

The disbursement rate of ODA projects was low in the January - September period, mainly due to prolonged COVID-19 outbreaks in dozens of localities across the country.

Data from the Ministry of Finance showed that about US$287.6 million worth of foreign capital was disbursed in the 9-month period, or representing 12.69% of this year’s plan.

In Da Nang, the total ODA capital allocated for projects in 2021 as planned reached VND882.98 billion.

As of September 30, the total detailed capital allocation estimates displayed on the Treasury and Budget Management Information System (TABMIS) had been VND882.98 billion, fulfilling 100% of the target.

The total already-disbursed ODA capital for projects was VND47.24 billion, reaching 16.7% of this year’s plan.

Addressing the virtual event, Deputy Minister of Finance Tran Xuan Ha asked localities to urgently allocate the remaining capital estimates to each project, = ensure the project's progress and disbursement needs and regularly make updates on the TABMIS.

Besides, the authorities of localities nationwide must give drastic directions and handle problems arising during project implementation in terms of site clearance, bidding, contracts and equipment imports so as to promote the disbursement rate, as well as adjust the disbursement plans for other internal projects with good disbursement progress but facing a shortage of capital.

Reporting by MAI QUE – Translating by A.THU