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ODA to top US$5 billion this year
Vietnam attracted US$3.85 billion in Official Development Assistance (ODA) between January and October, and the figure is expected to rise to US$5 billion by the year’s end, says the Ministry of Planning and Investment.
Most of the capital has been used for projects on transport, water supply and drainage, and urban development.
The ODA amount included loans of US$500 million to help the country overcome the global economic crisis, US$410 million for the Ho Chi Minh City Long Thanh - Dau Giay expressway and US$300 million for Hanoi water drainage project in the second phase.
The ODA disbursement target for the year was just US$1.9 billion, including US$1.6 billion in loans and US$300 million in non-refundable aid.
But with just US$1.86 billion disbursed in the ten-month period, the ministry expects the amount for the whole year to reach US$3billion, the highest since Vietnam began to receive ODA 17 years ago.
ODA to be committed for next year at the upcoming Consultative Group Meeting is expected to hit US$5.07 billion. The World Bank, the Asian Development Bank and Japan, which provides 70-80 percent of the total aid, remain the big donors.
Part of the total amount will be used to build a second international terminal at Hanoi’s Noi Bai International Airport (US$710 million), the Da Nang - Quang Ngai expressway (US$580 million), infrastructure for Lang - Hoa Lac High Tech Industrial Park (US$615 million) and a road linking Nhat Tan bridge with Noi Bai International Airport (US$150 million).
The ministry also predicts the total ODA commitment for the 2006-2009 periods to fetch US$20 billion, far surpassing its set target of US$12.35-15.75 billion.
The ODA disbursement target for 2010 has been set at US$2.47 billion, 30 percent higher than this year’s target.
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