JICA’s committed loans for Vietnam roughly unchanged in FY 2017
Friday, April 21,2017AsemconnectVietnam - The capital that the Japan International Cooperation Agency (JICA) pledges to loan to Vietnam in fiscal year 2017 (from April 2017 to March 2018) will not differ much from the previous fiscal year.
Fujita Yasuo, Chief Representative of JICA Vietnam Office, made the statement at the agency’s press conference on April 20, adding that Vietnam remains one of the countries with the biggest JICA-funded projects in the world.
In FY 2016, Japan pledged to provide Vietnam with JPY187.1 billion (US$1.7 billion) in loans and disbursed JPY175.6 billion (US$1.6 billion) for the country.
Fujita Yasuo said in FY 2017, JICA will maintain its support as in FY 2016 for the fields of promoting economic growth and international cooperation capacity, enhancing state governance, and supporting vulnerable groups.
However, the contents subject to the support will be adjusted in accordance with the Japanese Government’s policies, the Vietnamese Government’s demand, and sustainable development goals.
The JICA representative said the disbursement for FY 2017 is set to decrease from FY 2016 since the Thai Binh thermal power plant project already passed the stage that needed much funding.
Additionally, that the Vietnamese Government curbs the disbursement of corresponding capital from its budget will also influence JICA’s disbursement of the committed loans.
Fujita Yasuo pointed out obstacles to JICA’s support provision, elaborating that the handling of administrative procedures and site clearance remain sluggish. Meanwhile, procedures for approving ODA projects have become more complicated under the Vietnamese Government’s Decree 16/2016/ND-CP on the management and use of foreign sponsors’ ODA and concessional loans.
He stressed that JICA respects Vietnam’s public debt limit, but the country should simplify necessary procedures so as to facilitate the disbursement of the committed capital and the implementation of projects.
The problems JICA has encountered also face other foreign sponsors in Vietnam so they will work together to ask the Vietnamese Government to tackle the aforementioned obstacles, he added.
In FY 2016, Japan pledged to provide Vietnam with JPY187.1 billion (US$1.7 billion) in loans and disbursed JPY175.6 billion (US$1.6 billion) for the country.
Fujita Yasuo said in FY 2017, JICA will maintain its support as in FY 2016 for the fields of promoting economic growth and international cooperation capacity, enhancing state governance, and supporting vulnerable groups.
However, the contents subject to the support will be adjusted in accordance with the Japanese Government’s policies, the Vietnamese Government’s demand, and sustainable development goals.
The JICA representative said the disbursement for FY 2017 is set to decrease from FY 2016 since the Thai Binh thermal power plant project already passed the stage that needed much funding.
Additionally, that the Vietnamese Government curbs the disbursement of corresponding capital from its budget will also influence JICA’s disbursement of the committed loans.
Fujita Yasuo pointed out obstacles to JICA’s support provision, elaborating that the handling of administrative procedures and site clearance remain sluggish. Meanwhile, procedures for approving ODA projects have become more complicated under the Vietnamese Government’s Decree 16/2016/ND-CP on the management and use of foreign sponsors’ ODA and concessional loans.
He stressed that JICA respects Vietnam’s public debt limit, but the country should simplify necessary procedures so as to facilitate the disbursement of the committed capital and the implementation of projects.
The problems JICA has encountered also face other foreign sponsors in Vietnam so they will work together to ask the Vietnamese Government to tackle the aforementioned obstacles, he added.
Source: vov.vn
First Vietnam-ASEAN furniture, home accessories fair scheduled for August
Vietnam asks businesses to keep close watch on US investigation into boltless steel shelving imports
FTA to offer big opportunities for Vietnamese exports to Israel: Insiders
Vietnamese high-quality products promoted at Thaifex Anuga 2023
Remittances to HCM City likely to hits 7 billion USD in 2023
Vietnam, Slovenia seek to deepen trade, investment partnership
PM thanks Japanese enterprises for accompanying Vietnam
Vietnam, Israel cooperate to early enforce trade deal
Vietnam, UAE eye stronger economic, trade and energy cooperation
Economic, trade, investment cooperation – a pillar of Vietnam-RoK relations
Vietnam, WTO agree to promote multilateral trading
Prime Minister sets out on trip to attend expanded G7 Summit
Vietnam eyes stronger economic cooperation with China’s Guangdong province
Vietnam, Japan foster cooperation in aerospace supporting industry
Plan on implementing national strategy on climate change ...
Actively and effectively adapting, reducing vulnerability, loss and damage due to climate change; reduce greenhouse gas emissions ...Scheme on attracting, restructuring and improving quality ...
Urban development plan of Binh Phuoc province in a period ...
Plan on implementing Decision No. 327/QD-TTG dated March ...
Hung Kings Temple Festival 2023 kicks off
The Hung Kings Temple Festival 2023 and the Culture and Tourism Week of Ancestral Land 2023 kicked off in the northern province of Phu Tho ...Vietnam trounce Palestine at AFC U-17 Women's Asian ...
Phu Tho: Festival honours UNESCO intangible cultural ...
Saigontourist Group Food and Culture Festival 2023 opens
Vietnam’s top swimmer Huy Hoang to hold Vietnamese flag at ...