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International donors have so far this year provided 1.467 billion USD in official development assistance (ODA) capital to Vietnam, of which 720 million USD has already been disbursed, according to the Ministry of Planning and Investment (MPI).

The MPI said that the total ODA volume agreed with donors in the past five months was 9 percent higher than the figure of the first six months last year.

However, it stated that this had only reached 38 percent of the yearly target of 2.5 billion USD.

According to the MPI, more than 98 percent of the committed ODA, or 1.448 billion USD, was focused on transport, drainage and water supplies, and urban development. This proves that ODA for the country’s infrastructure development still has potential, even during the global economic recession.

The World Bank, one of Vietnam’s four biggest donors, assessed that the country’s power industry had seen the highest five-month disbursement, with a rate of 50 percent, followed by transport, urban development and education.

The MPI reported that only 121 out of 556 ODA projects had disbursed 60 percent or more of their yearly targets.

Ho Chi Minh City led the way with an ODA disbursement rate of 78.3 percent, northern Hai Phong City with around 40 percent and Hanoi with 36 percent.

Source: VietnamPlus