Vietnam signed 35 loan and aid agreements with total committed capital of $3.68 billion in the first ten months of this year, down 21.8% from a year earlier, the Ministry of Planning and Investment said on its website. The figure includes $3.65 billion worth of loans and $30.17 million worth of grants, the ministry added. Total ODA disbursement ODA in Vietnam is estimated at $3.22 billion in Jan-Oct, rising by 40% from a year earlier and exceeding the full-year target by 2.5%. The Southeast Asian country will need around $30 billion in ODA in the next five years though it has become a middle-income country. ODA is one of the key sources of dollars for Vietnam, after exports, foreign direct investment (FDI) and remittances. Experts advise Vietnam to improve efficiency and reduce the use of ODA and avoid a debt burden in the future. (mpi.gov.vn Oct 26)
