International donors will continue to help Vietnam achieve its development targets in the next years, said Country Director of the Asian Development Bank (ADB) Tomoyuki Kimuara at the 7th Aid Effectiveness Forum in Hanoi on Nov 26. Although Vietnam is a middle income country, the country still needs official development assistance (ODA) to ensure its sustainable development and avoid the “middle income” trap, Mr. Kimuara noted. Vietnam should have better orientations, policies and solutions to effectively use fewer preferential loans and seek other financial resources for development as official development assistance (ODA) is on the decline, donors added. They also suggested the country foster technical cooperation, share experience and transfer technologies through cooperation between developing and developed countries. Participants agreed that the forum’s activities in the 2014-2016 medium-term plan will emphasize the role of Vietnam’s contributions to regional and international aid effectiveness forums. Committed ODA for Vietnam hit nearly $80 billion by end-2012 but disbursement remained at $37.59 billion. The low disbursement is partly caused by slow site clearance, weak management and a shortage of reciprocal capital. (vietnamplus.vn Nov 26)
