Nghe An proposes many issues related to public investment disbursement of foreign loans

Comrade Tran Xuan Ha - Deputy Minister of Finance chaired at the Hanoi bridge. The conference had the participation of bridges in 63 provinces and cities, together withrepresentatives of central ministries and branches.

Comrade Le Hong Vinh - Member of the Provincial Party Committee, Permanent Vice Chairman of the Provincial People's Committee chaired the meeting.at Nghe An bridge pointAlso attending were representatives of departments and project boards using foreign loans.

Overview of the online conference on promoting disbursement of public investment capital from foreign loans at Nghe An bridge. Photo: Nguyen Hai

As of June 24, ministries and sectors have entered detailed budget estimates on TABMIS at a rate of 82.5%; localities have reached 86.4%. Seven out of 12 ministries have entered and allocated 100% of foreign loan capital estimates, four out of 12 ministries have entered and allocated over 70% of the budget; 59 out of 62 localities have entered and allocated over 50% of the loan capital estimates, and two out of 62 localities have entered and allocated less than 50%.

However, there are still some ministries and units requesting to return capital plans, assigning incorrect estimates or not allocating.

Comrade Le Hong Vinh - Permanent Vice Chairman of the Provincial People's Committee presided over the monitoring from Nghe An bridge. Photo: Nguyen Hai

Based on the budget estimate, by June 24, ministries and localities had disbursed VND7,427 billion of public investment capital from foreign sources, reaching 13.1% of the assigned budget, of which ministries and localities achieved 15.46%; localities achieved 11.98%. Nghe An is one of 14 localities with a disbursement rate of over 20%; Ho Chi Minh City alone had a disbursement rate of 4.13%. Currently, ministries and localities are continuing to disburse public investment capital from foreign loans according to the 2019 plan.

At the conference, based on the assessment of the current status of public investment disbursement results from foreign loans, representatives of ministries, branches and localities clarified the causes of the slow disbursement progress and sought solutions to promote it.

Accepting the recommendations of ministries and localities, the Ministry of Finance said it will continue to recommend the Government and the Prime Minister to strengthen direction, review and urge; coordinate between ministries and branches to promote the progress of public investment disbursement from loan capital.

Do Luong Bara Dam is a project invested with foreign loans. Photo: Nguyen Hai

Along with pointing out some difficulties and problems in the process of project implementation and disbursement, Nghe An proposed that the Central Government guide a comprehensive review to flexibly adjust the medium-term public investment capital plan in conjunction with adjusting the 2020 plan in accordance with the situation and actual disbursement needs of the projects; the Central Treasury guides the conversion procedures for projects with extended payment terms to 2020.