Proposal to add 4,000 billion VND in counterpart capital for ODA projects

The Ministry of Planning and Investment has just proposed that the Prime Minister report to the National Assembly to supplement 4,000 billion VND of counterpart capital in 2016 for projects using ODA capital from the revenue from equitization of state-owned enterprises.

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Specifically, if this proposal is approved, the Ministry of Transport will receive an additional VND3,210 billion; the Ministry of Agriculture and Rural Development will receive VND260 billion; and localities will receive VND530 billion in counterpart capital in 2016 for projects and programs using ODA loans.

"In order to have resources to accelerate the progress of projects, while waiting for the National Assembly's approval, we propose that the Prime Minister allow an advance payment of 50% of the above-mentioned additional capital," the Ministry of Planning and Investment proposed.

It is known that the projects eligible for consideration of additional counterpart capital according to the criteria set by the Ministry of Planning and Investment in 2016 are 36 projects with a need for additional counterpart capital of VND9,284 billion. Of which, the Ministry of Transport is VND8,488 billion, the Ministry of Agriculture and Rural Development is VND260 billion for 6 projects; localities are VND535.3 billion for 12 projects.

Projects not eligible for consideration of additional counterpart capital in 2016 are 2,680.1 billion VND, of which ministries and branches are 2,193 billion VND; localities are 487 billion VND.

According to the Ministry of Planning and Investment, the total counterpart capital plan for 2016 assigned by the Prime Minister to ministries, branches and localities is 4,264.5 billion VND (not including the counterpart portion for the local budget responsible for balancing), while the total counterpart capital demand for 2016 of ministries, branches and localities is 11,964 billion VND.

According to Investment