Vietnam attracts US$80 billion in ODA over the last 25 years

Thursday, 2018-07-26 04:16:48
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Deputy Prime Minister and Minister of Foreign Affairs Pham Binh Minh speaking at the event (Photo: baoquocte.vn)
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NDO - Vietnam has mobilised approximately US$80 billion in official development assistance (ODA) and preferential loans since 1993, establishing itself as one of the largest recipients of ODA worldwide.

The information was announced at a working session between the National Assembly Standing Committee's Supervisory Delegation and the Government to review the implementation of policies and laws on the management and use of ODA from 2011-2016.

Speaking at the event, Deputy Prime Minister and Foreign Minister, Pham Binh Minh, said that the outcome reflected the effort and pro-activeness of Vietnam in seeking and mobilising sources from outside the country in order to facilitate national development.

The Deputy PM noted with pleasure that the donors have expressed their appreciation for Vietnam’s effective use of ODA loans, which is the main reason for the donors to continue providing ODA and preferential loans to Vietnam.

Regarding orientations for the future, he asked for proper adjustments in directions to mobilise and use ODA loans in order to ensure efficient use and the repayment capability.

According to a Government report presented by Minister of Planning and Investment, Nguyen Chi Dung, at the working session, ODA and preferential loans have significantly contributed to promoting socio-economic development, improving the infrastructure system, ensuring social welfare.

Many constructions and projects funded by ODA loans have successfully been put into operation.

The loans have also facilitated the transfer of technology and management experience from developed countries while creating more jobs.