Promoting the progress of public investment disbursement from foreign loans
On the afternoon of December 3, in Hanoi, the Ministry of Finance held a national online meeting on the disbursement of public investment from foreign capital sources in 2024.
The conference was chaired from the Hanoi bridge by a representative of the Ministry of Finance. Also attending were representatives of relevant ministries, branches and bridge points 47/63 provinces and cities with public investment projects using foreign loans.
Chairing the conference from Nghe An bridge was comrade Trinh Thanh Hai - Member of the Provincial Party Executive Committee, Director of the Department of Finance. Also attending were representatives of relevant departments, branches and People's Committees of localities with public investment projects using foreign loans.
In 2024, nationwide, although the plan was assigned and the budget management information system (Tabmis) was imported quite early, during the implementation process, the Department and the Ministry continuously urged and reminded... but due to many difficulties and problems, the results and progress of disbursement of this capital source were generally low. By November 30, 2024, the disbursement of allocated capital nationwide reached about 39% and the re-borrowing by localities only reached about 32%.
At the conference, representatives of localities with large public investment capital in the form of loans such as Hanoi, Hue, Ho Chi Minh City, Ninh Binh... reported on the situation and progress of disbursement, shared experiences in organizing good disbursement; at the same time, raised difficulties and problems from their local practices, thereby, making recommendations to central ministries and branches to remove them.
In Nghe An, out of the total 6 projects using foreign capital currently being implemented, 3 projects have been allocated foreign capital plans in 2024 and the remaining 3 projects have not been allocated capital plans. Of which, 2 projects borrowing capital from the German Government have just completed adjusting the investment policy and extending the implementation period, so there is no need for capital in 2024, and 1 project borrowing capital from the World Bank has just completed signing the Loan Agreement in August 2024 and is currently implementing related contents.
Nghe An strives to achieve a disbursement rate of about 50% from loan capital by the end of 2024.
At the conference, the representative of the Department of Debt Management and External Finance, Ministry of Finance said that the main reason for the slow disbursement progress nationwide is related to the procedures for preparing investment projects, passive capital planning, so the investment implementation is not close. Some projects have to be changed or extended, but the adjustment and addition of investment policies are slow, causing the disbursement progress to be slow.
There is not much time left in 2024, the Ministry of Finance requires localities to promptly overcome the above limitations to increase the disbursement rate by the end of 2024 to at least over 50%; at the same time, prepare well for the investment phase to implement projects allocated capital in 2025.
Based on the recommendations, the Ministry of Finance will discuss and consult with international consultants and synthesize and report to competent authorities solutions to remove difficulties and obstacles./.
