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New measures to speed up WB-funded ODA projects
Representatives from various Vietnamese ministries and provinces and the World Bank (WB) in Vietnam gathered at a conference in Hanoi on June 5 to discuss measures to speed up the disbursement and implementation of WB-funded ODA projects.
At present, Vietnam has 42 ODA projects funded by the WB, with a total pledged investment of up to 5.1 billion USD. However, the disbursement rate of these projects only stands at between 12-13 percent. In particular, 10 projects saw a disbursement rate of only 1 percent.
According to the WB, the slowness of the disbursement requires a coordinated effort by the WB and the Ministry of Planning and Investment (MPI) to review the implementation of these projects.
The WB suggested considering the restructuring or cancellation of several project items and tightening regulations to speed up the implementation process.
Vietnam agreed with the WB that in future it will continue to re-evaluate projects that face difficulties and try to solve them by using the above-mentioned methods along with strengthening management supervision to ensure the projects are implemented.
The WB also proposed eight actions to address the problem and agreed to design its future projects in a more simple way, suitable to Vietnam ’s situation.
MPI Deputy Minister Cao Viet Sinh confirmed that all these actions are necessary and the ministry will report to the Prime Minister to ensure a coordinated mechanism between central and local agencies when addressing the problem.
Vietnam pledges no reciprocal capital shortage for any ODA project in 2009, he added.
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