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ODA commitment for Vietnam in 2012 reaches $7.4bil (07/12)
07/12/2011 - 10 Lượt xem
This is the result of the Consultative Group Meeting (CG) which closed yesterday, December 6, said Minister of Planning and Investment Bui Quang Vinh.
Vinh explained that the committed ODA for 2012 reduces because the World Bank (WB) will not continue its assistance program to deal with consequences of the global economic crisis. Last year this program committed $500 million to Vietnam.
The Minister said the number $7.4 billion is ‘encouraging’ in the context that most countries have to focus their effort and resources to cope with economic instability.
“The committed sum also shows donors’ favor Vietnam when the country has passed the threshold of a middle income country,” Vinh said.
Different from its routine, the Ministry of Planning and Investment refused to supply each donor’s committed ODA grant in details. Minister Vinh only said that Vietnam would continue receiving great assistance from financial institutions like the WB and the Asian Development Bank (ADB) as well as its traditional partner like Japan, which had announced $1.9 billion of ODA for Vietnam earlier.
The representative of the community of international donors, Victoria Kwakwa – country director of the WB in Vietnam, highly appreciated Vietnam’s effort in effectively using ODA. She said that donors would continue assisting Vietnam’s development process and want to more positively participate in Vietnam’s economic restructure.
According to the Ministry of Planning and Investment’s statistics, Vietnam’s ODA disbursement reached $3.2 billion by early December 2011. It is estimated to be $3.65 billion for the entire 2011, less than half of the committed sum. However, it increases by 10 percent over last year (over $2.9 billion).
Source: VietnamNet
Vinh explained that the committed ODA for 2012 reduces because the World Bank (WB) will not continue its assistance program to deal with consequences of the global economic crisis. Last year this program committed $500 million to Vietnam.
The Minister said the number $7.4 billion is ‘encouraging’ in the context that most countries have to focus their effort and resources to cope with economic instability.
“The committed sum also shows donors’ favor Vietnam when the country has passed the threshold of a middle income country,” Vinh said.
Different from its routine, the Ministry of Planning and Investment refused to supply each donor’s committed ODA grant in details. Minister Vinh only said that Vietnam would continue receiving great assistance from financial institutions like the WB and the Asian Development Bank (ADB) as well as its traditional partner like Japan, which had announced $1.9 billion of ODA for Vietnam earlier.
The representative of the community of international donors, Victoria Kwakwa – country director of the WB in Vietnam, highly appreciated Vietnam’s effort in effectively using ODA. She said that donors would continue assisting Vietnam’s development process and want to more positively participate in Vietnam’s economic restructure.
According to the Ministry of Planning and Investment’s statistics, Vietnam’s ODA disbursement reached $3.2 billion by early December 2011. It is estimated to be $3.65 billion for the entire 2011, less than half of the committed sum. However, it increases by 10 percent over last year (over $2.9 billion).
Source: VietnamNet
