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The provincial Standing Party Committee’s meeting on using the loans effectively

Thursday, 27/07/2017

On July 21st, 2017, under the chairmanship of Mrs. Hoang Thi Thuy Lan, Member of the Party Central Committee, Secretary of the provincial Party Committee, Head of the provincial delegation of XIV National Assembly, the Provincial Standing Party Committee met and commented on the projects using ODA capital, preferential loans and other important contents.

Mrs. Hoang Thi Thuy Lan, Member of the Party Central Committee, Secretary of the provincial Party Committee, Head of the provincial delegation of XIV National Assembly concluded the meeting.

With the three projects using ODA and preferential loans, including: Vinh Phuc Flood and Water Management (USD 220 million); the Urban Type II Development - Vinh Yen Green City (USD 100.2 million) and Dam Vac Bridge (USD 25.4 million), the opinions at the meeting agreed with the investment policy and showed that they were important projects, contributing to the socio-economic development of the province. Some participants also stressed that the Flood and Water Management Project was very necessary because of the heavy flooding in the province. However, it need to be reconsidered the investment roadmap, which components should be prioritized in advance, which could be done later to ensure the effectiveness of the investment capital. Some argued that it must be reviewed and adjusted the component projects in a reasonable manner, especially these projects could be funded by socialization capital. For the project, we might base on the scientific basis to propose the projects suitably and it should consider the connection with other projects. Others suggested that it was neccessary to clarify the source of counterpart fund and repayment plan because although ODA and preferential loans had low interest rates and long repayment periods, the provincial Budget revenue was very difficult.

Concluding this content, Mrs. Hoang Thi Thuy Lan emphasized that the policy on mobilizing ODA capital, preferential loans to invest in important works of the province was agreed from previous years and until now the results have been gained. She also appreciated the efforts of the provincial People's Committee and some relevant agencies in mobilizing this capital. The fund for three projects was very huge (more than USD 345 million) so that the most effective calculation must be done.

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