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ODA key to development, poverty reduction

Update: December, 10/2012 - 11:55

HA NOI (VNS)– Donor countries have been urged to continue their official development assistance to Viet Nam, even as their budgets tighten for the difficult year ahead.

The plea was made by Minister of Planning and Investment Bui Quang Vinh at the opening of the annual Viet Nam Consultative Group meeting in Ha Noi, this morning .

ODA would still be "an important source of capital for poverty reduction and development investment", Vinh said in his opening speech.

World Bank country director for Viet Nam Victoria KwaKwa, who was co-chair of the meeting, noted the country's continued downward economic growth trend over the last few years, suggesting that the economy was losing much of its dynamism.

KwaKwa said development partners were committed to change the Consultative Group from an ODA mobilisation platform to a dialogue among donors, the Government, private sectors and other stakeholders, starting from next year.

Meanwhile, donor ODA commitments for 2013 were expected to be announced later in the day. Last year, they committed nearly US$7.4 billion.

Besides discussion on macroeconomic stability, this year's group meeting also focused on education and land reforms.

Prime Minister Nguyen Tan Dung was also scheduled to speak. – VNS

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