PM requests effective management and use of foreign loans

Based on the evaluation of the results of the implementation of policies and laws on the management and use of foreign loans, tasks and solutions set out in the Resolution, the Government leader instructs the Ministry of Planning and Investment (MPI) to continue completing the Law on Public Investment and report it to the PM and the Government, before it is submitted to the 14^th National Assembly for approval at the upcoming 7^th session.

In addition, the ministry has been asked to develop the five-year and annual public investment plans for official development assistance (ODA) capital and preferential loans from foreign donors, report the plans to the authorised levels for approval, organize the implementation in line with the progress stipulated in the Law on Public Investment, and examine the disbursement progress and efficiency of projects using foreign loans in accordance with provisions of the law.

The PM also asks the MPI to coordinate with the Finance Ministry (MOF) and other agencies to guide the implementation of orientations for the attraction, management and use of ODA capital and preferential loans from foreign donors in the 2018-2020 period, vision to 2021-2025.

The MOF has been requested to complete the building of a directive on enhancing the use of ODA capital and foreign preferential loans for development investment and not for regular spending, while continuing to finalize the orientations for the attraction, management and use of ODA capital and preferential loans in the 2021-2025 period in accordance with the 10-year socio-economic development strategy (2021-2030) and the five-year socio-economic development plan (2021-2015).

The PM asks ministries, sectors and localities to carefully select projects for the use of foreign loans, ensuring the efficiency of use and debt repayment capacity on the basis of improving the quality of project documents and meeting well with Viet Nam’s reciprocal conditions.

By Vien Nhu