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The target program on supporting ODA counter-capital to local government in the period of 2016-2020

August 8, Prime Minister Nguyen Xuan Phuc signed the Decision approving the target Program on supporting counter-capital for Official Development Assistance (ODA) to local government in the period of 2016-2020.

Under the Plan, until 2020, 48 provinces and cities facing shortage of budget will be supported with more financial resources to speed up disbursement of foreign capital (about 54,000 billion VND) from international donors.

An amount of counterpart capital of about 6,976 billion VND will be added to finalize 300 projects implemented during the period of 2011-2015 which are planned to be completed in 2016-2020 period and come into effective operation.

An amount of counterpart capital of about 3,024 billion VND will be allocated to implement new important projects of 2016-2020 period and deal with arising problems in implementation of the projects transited from 2011-2015 period to 2016-2020 period.

The total fund for implementation of the Program is 10,000 billion VND from l state budget (this amount will be supplemented for new ODA projects and as having adequate financial resources). The principle for allocating counterpart fund of the Program is based on the Decision No 40/2015/QD-TTg dated September 14, 2015 by the Prime Minister promulgating principles, criteria and rate of fund allocation for development investment of state budget in the period of 2016-2020.

The key measure to implement the Program is to define and plan sufficient counterpart fund for ODA projects during these projects’ life circle and within the medium - term investment plan of the period 2016-2020 under the principle of allocating sufficient counterpart fund for the projects as committed. Make plan on annual ODA counter capital for each project under the principle of not exceeding the planned medium-term capital and allocate sufficiently capital based on implementation process of ODA projects but not exceeding the supported rate as regulated. It is required to allocate counterpart capital for ODA projects and loans from foreign donors aimed at completing the projects in priority order. Simultaneously, assess the efficiency of counter-capital the 300 ODA projects left from the 2011-2015 period and end ineffective projects.

Regarding mobilization and utilization of ODA counterpart capital, the capital allocated by the government for implementation of the Program only covers  a part of ODA projects managed by local government. In implementation process, provinces and cities must take initiative to balance local budget and mobilize other financial resources to ensure  capital  for approved projects. The provinces and cities must utilize and managed the capital efficiently and on target and ensure ODA capital disbursement progress for all projects.

It is required to improve performance of administrative agencies related to the Program from central to local level; strengthen collaboration between state management agencies and the management agency of the Program to better define financial mechanism and the responsibilities in implementation of ODA projects; make plan on allocating counterpart capital defining rights and responsibilities of each level.

The Ministry of Planning and Investment is the management agency of the Program.

                                                                                                                                           Ngoc Quyen 

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