VN reviews foreign-funded projects in 2017-2018Deputy PM Pham Binh Minh asked for reviewing approved 26 projects using foreign loans in period 2017-2018 which are not listed in the mid-term public investment plan so that these projects could be carried out soon after the signing of credit agreements to optimize the effectiveness of foreign loans. Foreign-funded projects in 2017-2018 focus on such necessary areas as infrastructure development, improvement of higher education quality, urban and rural development, fundamental health network development, water supply for localities affected by droughts. As Viet Nam graduated from the International Development Association (IDA) capital sources since July, 2017, the nation will not be provided with preferential loans from the IDA. Since 2018, Viet Nam will only access to loans with higher interest rates from the International Bank for Reconstruction and Development (IBRD) loans and non-preferential IDA loans. He assigned the Ministry of Planning and Investment to report to the Government on orientations to mobilize loans in the upcoming time, especially non-preferential loans in the context that Viet Nam has graduated the IDA.

Source: VietNamNet News May 03, 2018 10:07 UTC