Hoa Binh city strives to disburse public investment capital

10/6/2021 - 9:13:21 PM

(HBO) – At present, the People’s Committee of Hoa Binh City is managing and carrying out 101 projects funded by public investment capital. After adjustment and reduction, total capital allocated to those projects amounts to over 587.7 billion VND this year. Of which, 318.7 billion VND is from official development assistance and over 47.6 billion VND from the State budget. As of September 7, over 91.6 billion VND was disbursed, or 15.6 percent of the assigned plan.

As directed by the Prime Minister and Chairman of the provincial People’s Committee, disbursement of public investment capital must reach at least 60 percent of the assigned yearly target by September 30. Therefore, it is hard for the city to meet the requirements.

Thanks to investment capital, the National Highway 70B via Yen Mong commune, Hoa Binh city is being upgraded.

Specifically, there are two ODA-funded projects in the city. As of September 7, only 16.66 billion VND was disbursed, or 5.22 percent. Seven other projects are funded by the central State budget and three used local budget, with a total 28 billion VND allocated under the 2021 capital plan, but only 5.08 billion VND has been disbursed so far. Ten projects use additional capital from the district budget.

According to the municipal People’s Committee, capital disbursement is slow and delayed in several projects due to difficulties in compensation and site clearance. The municipal authorities are directing investors to take next steps to ensure the progress of disbursement as committed after completing procedures for project adjustment.

Regarding the northern mountainous urban area development programme, the municipal authorities issued Document No.2482/UBND-ODA in July asking to receive ODA capital for the first time in 2021. At a recent meeting with the provincial authorities, Chairman of the municipal People’s Committee Bui Quang Diep said the city has promptly completed necessary procedures required by the provincial People’s Committee and the Ministry of Construction. After the ministries of construction, finance, planning and investment allow the city to receive the capital, the municipal authorities will pay back the 100 billion VND advance to the provincial budget and pay over 50 billion VND for completed work by contractors.

So far, the relevant ministries have allowed the first capital withdrawal under the northern mountainous urban area development programme. Therefore, the city could disburse about 150 billion VND, thus meeting the requirement of disbursing at least 60 percent of the assigned plan by September 30./.

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