Disbursed capital reached nearly 5.8 trillion vnd in the first 2 months of 2017

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Illustrative photo.

Particularly, in February 2017, the Ministry of Finance signed two loan agreements worth a total of $US 23 million, including a $US 3 million loan agreement with South Korea for a medical equipment project at the Hai Phong maternity hospital; and a $US 20 million agreement with South Korea for the supply of equipment for the Vietnam Fire and Rescue Police Department.

To 22nd February 2017, disbursed capital reached about 5,775 billion vnd (equivalent to $US 260.5 million), which was mainly in February 2017 with a disbursed capital of 5,598 billion vnd (equivalent to $US 252.5 million).

Reportedly, in order to improve the effectiveness of public debt management, the Ministry of Finance has finalized and submitted a draft Law on Public Debt Management (which is revised) to the Government.

The goal that the Ministry of Finance aims in this draft is to improve management policy, create a synchronized legal basis between public debt management and public investment management; mobilize capital promptly for investment and socio-economic development while ensuring debt safety and national financial security; improve the efficiency of loan utilization; and facilitate the implementation of active debt management.

8,150 billion vnd disbursed under the capital plan in January 2017 VCN- To 31st January 2017, the accumulated investment capital disbursed through the State Treasury system was estimated ...

In addition, this draft Law will help to define the functions, tasks and powers of State agencies in public debt management; as well as accountability based on functions and duties in all stages from mobilization, allocation, and use of public debt. Thus, the authorities should selectively use international practices in line with practical conditions of Vietnam so as to make public debt management activities in Vietnam similar to international standards.