Concern Over ODA Expenditure of Vietnam

Hanoi, December 20 (Engineering Daily) -- The slow expenditure of Vietnam on ODA has concerned the World Bank.

The country director of World Bank Vietnam Ousmane Dione said on Monday that Vietnam borrowed USD9.5 billion in ODA loans last year and disbursed 11% of it which ranked the lowest rate over the decade.

It is estimated that the delay occurred because of the scarce counterpart funds. Furthermore the Vietnam government is worried about breaching the public debt limit for it setting the public debt cap of 65% of GDP.

It is also the Japan International Cooperation Agency(JICA) which complained about the delay in disbursing ODA loans of Vietnam this year. The projects of JICA have been stranded from operation including one section of the Ho Chi Minh City metro, two sections of the Hanoi metro and the Maritime Safety Capability Improvement Project.
 

Meanwhile, the Vietnam government has been striving to have counterpart funds.