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PM approves measures for more effective management of funds (11/08)

06/08/2010 - 167 Lượt xem

The Prime Ministerial instructions also covered enforcement of the Investment Law, Land Law, Law on Bidding, Enterprise Law and decrees on how to use and manage official development assistance (ODA) funds.

The Prime Minister ordered that all drafts of the instructions and decrees be ready for the Government to ratify by the end of this month.

He also directed the Ministry of Planning and Investment (MPI) to present a decree defining the responsibilities of a person who signs an investment decision and of reviewers who support or oppose investment decisions.

The MPI will have to work on a draft on the functions and responsibilities of the ODA projects' management units in time for the Government to promulgate a decree on the issue in September.

Other MPI tasks include developing drafts on investment management of projects that use State capital.

The Prime Minister also asked the Ministry of Finance to review its disbursement procedures and mechanisms. He demanded the ministry find ways to speed up the process of capital disbursement for major projects and construction work.

The ministry needs to inspect the use of offices, cars and motorbikes by management units who receive both State and ODA capital, said the Prime Minister.

Dung asked the Ministry of Construction to set regulations on responsibilities of individuals and organisations on construction quality.

The Ministry of Natural Resources and Environment takes responsibility for drafting a decree on issuing certification for land use rights, reclaiming of land and compensation and relocation of people affected by construction works.

The prime minister directed the government's inspection board to assess several key construction projects, especially transportation and irrigation projects, which were funded by a mix of ODA and State capital.

He said the board has to focus on investigation and reporting of wrong-doing in infrastructure projects to related sectors and project donors.

The Prime Minister also outlined duties for other ministries, sectors and localities, banks and the mass media.

ODA on the rise

Official Development Assistance (ODA) from international donors rose during the first seven months of this year to nearly US$1.6bil.

Of that amount, loans accounted for US$1.466mil and non-refundable aid for US$133mil, according to the Ministry of Planning and investment.

The gross value of distributed ODA was estimated at US$875mil, half of the year's target, with loans accounting for $764mil and aid for US$111mil.

The Japan Bank for International Co-operation allocated most of the total, followed by the Asian Development Bank and the World Bank.

The amount of capital disbursed by these banks comes to US$610mil, representing 80% of the total disbursed credit value.

Source: Viet Nam News