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Vietnam's ODA debts in safe areas (05/04)
06/08/2010 - 237 Lượt xem
Vietnam's official development assistance (ODA) debts are in safe areas, according to a conclusion shared by the World Bank (WB), the International Monetary Fund (IMF) and other donors.
During a recent interview with Dau Tu (Investment) newspaper, Duong Duc Ung, a senior policy advisor for the Ministry of Planning and Investment and Vietnam’s leading ODA expert, affirmed that Vietnam's ODA debt indicators compared with GDP, export revenues, and debt services are all below international standards.
Mr Ung said that ODA accounts for 17 per cent of state investment and 11 per cent of total social investment in Vietnam. These figures are not as big as those of other developing nations, so Vietnam’s development does not depend on ODA aid.
According to the Finance Ministry, Vietnam began paying ODA debts, including principal and interests in 2002, ten years after the first ODA agreements were signed.
Vietnam needs at least US$10. 9 billion in ODA for the 2006-2010 period in addition to current ODA outstanding balance, Mr Ung said, adding that Vietnam's ODA debt would remain in a safe round and Vietnam will have to receive more ODA.
Mr Ung also noted that many ODA-funded projects have been implemented behind schedule, including all WB-funded projects. The Asian Development Bank (ADB) has only one project that has been finished in time in terms of capital disbursement and implementation.
Mr Ung attributed the delay to slow clearance of sites for infrastructure construction projects.
Source: VOV
