Vietnam ODA Disbursements Rise 17.2% to US$844M in Jan-May

Vietnam disbursed US$844 million in official development assistance (ODA) in the first five months of this year, up 17.2% from a year earlier and fulfilling 35% of the full-year target, the Ministry of Planning and Investment (MPI) said.

Of the sum, loans accounted for US$767 million and non-refundable aid made up the rest of US$77 million, the Dau Tu newspaper reported Monday, citing the MPI.

The MPI added that Vietnam signed ODA deals worth US$497 million with donors between January and May.

The Southeast Asian country targets to disburse US$3.5 billion in ODA in 2010 against the record high US$4.1 billion in 2009, according to the ministry.

At the CG Meeting held in Hanoi late last year, foreign donors pledged a record of US$8.063 billion in aid for the nation this year.

Vietnam disbursed US$9.81 billion in ODA between 2006 and 2009, accounting for 41% of total pledged ODA and 60% of the signed ODA in the period. The figure is forecast to rise to US$12.96 billion by end-December this year.

The mid-term Consultative Group (CG) Meeting 2010 will be held in Rach Gia city in the southern province of Kien Giang on June 9-10, state media reported. (Investment)

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