Deputy PM urges acceleration of disbursement of foreign loans

Saturday, 2018-11-24 11:57:09
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A general view of the meeting. (Photo: VGP)
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NDO – Deputy Prime Minister and Foreign Minister Pham Binh Minh has asked project management agencies to conduct thorough reviews in order to accelerate the progress of the implementation and disbursement of foreign loans, aiming to ensure the effective use of such interest-bearing loans.

The deputy PM, who heads the national steering committee for official development assistance and preferential loans, made the request during a meeting with ministries, sectors and localities on the disbursement reality of foreign loans so far this year, in Hanoi, on November 23.

He emphasised that projects using foreign loans are included in the medium-term public investment plan, with the investment capital sources guaranteed, and the remaining task is to focus on facilitating effective implementation of the projects so that they will promptly bring about practical benefits.

Ministries, sectors and localities should clearly work out the subjective reasons to focus on addressing, including the step of land clearance, avoiding the lack of capital for projects of fast disbursement as well as the capital stuck in slowly implemented projects, Deputy PM Minh said.

With regards to the competence of flexible capital transfer inside the ministries, sectors and localities, he asked the Ministry of Planning and Investment and the Ministry of Finance to review and recommend the handling orientations in the direction of the faster transfer of capital in behind-schedule projects into projects with effective implementation and fast disbursement.

Concerning the suggestion on preventively using 10% of the medium-term public investment plan of ministries, sectors and localities as counterpart capital for projects using foreign loans, the deputy PM recognised the suggestion and requested specific reports in the spirit of promoting management responsibilities and using the already-allocated capital of ministries, sectors and localities.

On the same day, Deputy PM Minh chaired a meeting to comment on projects using foreign loans for the post-2020 period.