The use of ODA funds must not exceed the allocated budget.

December 9, 2015 06:46

The Prime Minister has just assigned additional foreign capital (ODA) funding plans from the state budget for 2015 to ministries and localities, stipulating that the use of ODA funds must not exceed the allocated capital.

Hầm đèo Hải Vân thực hiện bằng vốn ODA
The Hai Van Pass Tunnel was constructed using ODA (Official Development Assistance) funds.

Accordingly, the Prime Minister has instructed the Minister of Planning and Investment to determine the specific capital allocation for each project based on the total capital and the list of projects assigned to central and local ministries and agencies.

In principle, the State only adds ODA projects to the list of projects eligible for allocation from the central budget and with undisbursed donor funding (including the central budget portion according to the Agreement and investment decisions of competent authorities for mixed ODA projects).

Specifically, for transitional projects, these must be projects that were assigned by the Prime Minister in previous years but have not yet disbursed all the committed funds from the donor. As for newly commenced projects, only those projects that have signed agreements with donors and received investment approval from competent authorities should be added to the 2015 plan.

No additions will be made to projects for which an agreement has not yet been signed.

The additional ODA capital allocated to each project in 2015 shall not exceed the ODA capital disbursed from the central budget as stipulated in the Agreement or as decided by the competent authority approving the project, and shall be consistent with the implementation progress and funding capacity of the donor in 2015; no additional capital shall be allocated to projects that have not yet signed an Agreement or have not been approved by the competent authority; and projects that are not eligible for investment from the central budget.

The Ministry of Planning and Investment is fully responsible to the Prime Minister and inspection and auditing agencies for the accuracy of information, data, and capital allocation for projects.

According to Investment

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The use of ODA funds must not exceed the allocated budget.
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