Viet Nam and six banks pledge to harmonize ODA procedures

The Ministry of Planning and Investment (MoPI) on May 15 signed a commitment with six banks to implement the Prime Minister’s decision No 48/2008/QĐ-TTg on ODA capital use, in Hanoi.

The six banks include the Asian Development Bank (ADB), the World Bank (WB), the French Agency for Development (AFD), Germany’s KfW Bank, the Japan Bank for International Corporation (JBIC) and the Korea Export and Import Bank (Korea Eximbank).

Deputy Minister of MoIC said that the six bank’s commitment following the PM’s decision will contribute to shortening the progress and improving the efficiency of ODA projects.

The decision includes six parts with common instruction on feasible research, international standards and the demands of the Vietnam’s Government and foreign sponsors to harmonize procedures and policies on ODA projects.

The instruction is an effort to harmonize processes and procedures between the Vietnamese Government and the six banks under the spirit of the Paris Announcement and Hanoi Commitment on aid efficiency. This is a common initiative by the ODA group of the government and the six banks.

The PM’s instruction will create favorable conditions for Vietnamese agencies and sponsors in the ODA project implementation process. (CPV)