Hanoi (VNA) – Disbursement of official developmentassistance (ODA) hit over 1.6 trillion VND in the first five months of this year,equivalent to only 2.7 percent and 5.6 percent of targets assigned by theNational Assembly and Government for the whole year, respectively, which werealarming figures, said Finance Minister Dinh Tien Dung on June 26.

During a teleconference held by the Finance Ministry inHanoi, Dung said disbursement of ODA and foreign preferential loans has failedto meet estimate since 2016.

Under the 2016 – 2020 public investment plan, the total ODA and foreignpreferential loans will reach 360 trillion VND (15.6 billion USD). By late2019, more than 244 trillion VND will be disbursed for the 2016-2019 period.

Head of the Finance Ministry’s Department of Debt Managementand External Finance Truong Hung Long said over 60 projects still lack acombined capital of more than 34 trillion VND.

He mentioned obstacles regarding investment, relending,expense control and capital withdrawal procedures.

The Finance Ministry suggested that the Government assignthe Ministry of Planning and Investment (MPI) to work with ministries andagencies to build a new decree on ODA and preferential loan management, and simplifyprocedures to increase capital annually.

The MPI was also advised to report to the Prime Ministerabout the disbursement of 60 trillion VND assigned by the legislature.

In order to accelerate disbursement, efforts of ministries,agencies, investors and sponsors is needed, Dung added.-VNA