Construction Ministry tightens use of ODA money
11:04' 22/08/2006 (GMT+7)

VietNamNet Bridge - The Ministry of Construction has asked the executives of projects funded by official development assistance (ODA) that they have the capacity to meet their financial obligations.

The requirement was made in a regulation issued by the ministry on August 21.

Under the regulation which covers the management and use of ODA, projects listed for ODA grants included strategic planning in the construction industry, improvement of institutional capacity, urban planning and development, urban technical infrastructural planning and development, research and transfer of new technologies and other areas to be decided by the Minister of Construction.

ODA loans with preferential interest rates will be given first to programmes or projects on liquid and solid waste treatment, environmental hygiene, water supply and drainage, urban upgrading and development, and housing for low-income earners.

Projects or programmes on a major scale which have a slow return, as well as projects on technological transfer will also eligible for ODA loans at preferential interest rates.

(Source: VNA)

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