Nghe An strives to complete 100% disbursement of World Bank loan funds.

On the morning of October 28th, the Ministry of Finance held an online conference with ministries, agencies, and localities and the World Bank on the disbursement of capital plans for 2020. Mr. Tran Xuan Ha, Deputy Minister of Finance, chaired the conference. Attendees included representatives from the World Bank; leaders of central ministries and agencies; and local authorities. Mr. Le Hong Vinh, Member of the Provincial Party Committee Standing Committee and Permanent Vice Chairman of the Provincial People's Committee, chaired the meeting at the Nghe An branch.

Comrade Le Hong Vinh, Standing Vice Chairman of the Provincial People's Committee, presided over the meeting at the Nghe An location. Photo: Thu Huyen.

According to a report by the Ministry of Finance, in the first nine months of 2020, the disbursement rate...Programs and projects using WB loans nationwide reached over 20% of the allocated budget and were higher than the same period in 2019. However, this rate is much lower than the average disbursement rate of public investment capital nationwide in 2020.

At the various locations, local leaders shared their opinions on the difficulties and limitations; put forward recommendations, proposals, and solutions to achieve high results in disbursing public investment funds from World Bank loans.

Based on the opinions expressed by the localities, the leaders of the Ministry of Finance have given specific opinions on each specific issue of each locality...

In Nghe An province, following the directives of the Government, the Prime Minister, and central ministries and agencies, from the early months of 2020, the People's Committee of Nghe An province directed and implemented many decisive solutions to...Accelerate the disbursement of ODA funds.and concessional loans from foreign donors in general, and projects using WB loans in particular.

For the 2020 plan, Nghe An province was allocated 175.479 billion VND for 4 projects.WB projectAs of September 30, 2020, the disbursed value was VND 126.21 billion, reaching a rate of 71.92%. Of this, 2 projects had disbursed nearly 100% of their funds, 1 project had disbursed 70.74%, and 1 project had not yet disbursed any funds.

Delegates attending the online conference from the Nghe An branch. Photo: Thu Huyen

Regarding the 2019 capital plan extended into 2020: There are 2 projects/capital extended totaling VND 1.414 billion. As of September 30th, the disbursement rate reached 68.51%. For the additional capital allocated in 2019 (disbursement until December 31st, 2020): 2 projects/VND 181.4 billion, as of September 30th, the disbursement rate had reached nearly 40%.

Regarding foreign capital re-lent in 2020:The plan allocated 85.43 billion VND for 4 projects, and by September 30th, nearly 51% had been disbursed. The amount of re-lent capital disbursed corresponds to the amount of capital allocated from the central government budget.

The Gang Bridge, connecting Nghia Hung commune with Nghia Hieu commune (Nghia Dan district), was newly constructed with funding from the World Bank (LRAM project). Photo: Thu Huyen

During the remaining two months of 2020, Nghe An will continue its efforts, decisively directing all sectors, levels, and investors to focus on resolving difficulties and striving to complete the disbursement of 100% of the planned public investment capital in general, and ODA programs and projects using WB loans in particular, in accordance with the directives of the Government and the Prime Minister.

Based on the actual disbursement situation of the projects, at the Conference, Nghe An provinceProposals were made to reduce the allocated additional capital for 2019 due to a lack of need for its use. Specifically, it was proposed to return VND 56.019 billion to the central budget for 2 projects, including one project using World Bank funds (LRAM project) with VND 47.624 billion.