Borrowing nearly 2.5 billion USD of ODA capital for projects to combat climate change

The Government has agreed to borrow more than 2.48 billion USD in ODA capital to invest in and build 16 transport infrastructure and climate change response projects in the Mekong Delta.

In a resolution signed by Deputy Prime Minister Tran Luu Quang today, projects for sustainable development in the Mekong Delta to adapt to climate change under the Ministry of Agriculture and Rural Development, the Ministry of Transport and 13 localities will be eligible for preferential foreign loans for implementation.

The total loan capital of the projects is more than 2.48 billion USD. The Government also agreed to apply a re-lending rate of 10% of foreign loans to 14 projects under the spending tasks of the local budget of the Mekong Delta region.

The two ministries and localities with projects eligible for loans (Dong Thap, Vinh Long, Ben Tre, Kien Giang , Can Tho, Hau Giang...) are required to ensure that they avoid loss, waste, corruption, and group interests.

"Projects need to be built in accordance with planning, borrowing capacity, debt repayment and counterpart capital arrangement," the Government resolution stated.

The 16 sustainable development projects in the Mekong Delta include transport infrastructure projects such as coastal roads in Tien Giang, Tra Vinh and Ben Tre provinces; bridges over the Vam Co Dong, Vam Co Tay and Can Giuoc rivers; the dyke system in Vinh Long province and a number of projects to develop the transport network and upgrade and renovate national highways passing through localities in the Mekong Delta.

This year, the total estimated foreign capital from the central budget assigned by the Prime Minister to 11 ministries and branches is more than 11,858 billion VND, for 57 projects and sub-projects.

It is estimated that in the first 6 months of 2023, the control rate of foreign loan expenditure will reach 27.4% of the assigned estimate, equivalent to VND 3,251 billion. The disbursement rate of foreign capital public investment by ministries and branches is about VND 3,225 billion, reaching over 27% of the estimate.

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