Vietnam Edu Ministry Faces ODA Disbursement Challenges, Plans Fund Return
The Vietnamese Ministry of Education and Training has faced challenges in disbursing official development assistance (ODA) funds, with a disbursement rate of 8.58% by May 15, falling short of the allocated budget, local media reported.
The ministry plans to strive for a full-year disbursement of VND350 billion ($14 million), intending to return VND280 billion to the budget. This situation reflected the difficulties in foreign-funded public investment disbursement.
Mr. Vo Duc Hien, Deputy Director of the Department of Debt and External Finance Management, under the Ministry of Finance, highlighted the low disbursement rates of foreign-funded public investment across sectors. Projections suggest a potential increase to 15%-17% by the end of June 2024, aligning with past performance averages.
Experts highlighted the importance of dynamic and innovative leadership to enhance public investment disbursement efficiency. Learning from successful regions and sectors can provide valuable insights for overcoming barriers and accelerating fund utilization.