27 localities request to return 5,000 billion VND of borrowed capital

27 localities including Ho Chi Minh City, Binh Duong , Bac Ninh... asked to return 5,500 billion VND of borrowed capital from foreign loans in 2023.

According to the Department of Debt Management and External Finance (Ministry of Finance), by the end of August, 27 localities proposed to reduce their loan estimates, including Ho Chi Minh City, Binh Duong, Can Tho, Khanh Hoa, Bac Ninh, Thanh Hoa, and Quang Binh .

This year, more localities requested to return loans than in 2022. As of the end of August last year, only 7 localities requested to return loans worth about 1,500 billion VND.

Localities request to return loans according to the management agency, stemming from many reasons. In particular, many localities request to transfer mainly because the project has ended, the disbursement period has expired or there is no longer a need for disbursement, the provincial capital has not been allocated. In addition, the majority of the amount requested to be refunded is due to projects that have not completed investment procedures.

In contrast to the group asking for repayment, there are 6 localities proposing to increase the 2023 loan estimate by 350 billion VND, including Binh Dinh, Hanoi, Hai Duong, Hai Phong, Nam Dinh and Phu Tho.

This group requests additional capital because there is a project that will expire disbursement this year, so it needs to supplement the capital plan or to match the project implementation progress.

According to the 2023 plan approved by the Government, localities will borrow VND27,200 billion from the Government's foreign re-loan and other sources. In addition, localities must repay nearly VND5,000 billion in debt, including VND2,800 billion in principal and nearly VND2,200 billion in interest.

In mid-October, the Government issued a Resolution approving adjustments to the re-borrowing capital estimates of localities, at the request of the Ministry of Finance.

Quynh Trang

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