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On August 31, Ministry of Finance held an online conference with localities on the disbursement of public investment capital from the Government over the first eight months of 2020. Deputy Minister of Finance Tran Xuan Ha chaired the conference. Representatives of Binh Duong province, including leaders of provincial Department of Finance, State Treasury, Department of Planning and Investment, took part in the online conference. 

Nguyen Xuan Thao, Deputy Director of Department of Debt Management and External Finance (Ministry of Finance), said: Over the first 8 months 2020, total foreign loan of localities reached 22% of the estimate.  The Central fund assigned to localities to re-lend reached about 29.3% of the estimate. Although the disbursement rate in August was better than that in June, with an average increase of 16%, the disbursement rate so far has been low compared to the same period of previous years. If there were no solutions to solve this problem, from now until the end of the year, the disbursement rate would not increase.

At the conference, leaders of Ministry of Finance asked localities to urgently allocate the remaining estimates to each project, ensure to closely monitor the disbursement progress and needs of each project and promptly enter the information into Budget and Treasury management database (Tabmis) for disbursement solutions. In addition, Ministry of Finance also recommended that for the rural electricity supplying program (EU Aid), Ministry of Planning and Investment and Ministry of Industry and Trade should soon review and adjust the mid-term public investment plan to inform localities to promptly adjust the 2020 estimates, ensuring not to over-disburse the withdrawn aid capital to the State budget.

In Binh Duong, the disbursement of ODA capital and re-loans from the local budget deficit's fund in 2020 was relatively good... 

Reported by Thanh Hong - Translated by Ngoc Huynh