Circular No. 37/2016/TT-BTC dated February 29, 2016 of the Ministry of Finance prescribing interest rate of the Development Fund of small-and medium sized enterprises

THE MINISTRY OF FINANCE

Circular No. 37/2016/TT-BTC dated February 29, 2016 of the Ministry of Finance prescribing interest rate of the Development Fund of small-and medium sized enterprises

Pursuant to the Decree No. 215/2013/ND-CP dated December 23, 2013 of the Government defining the functions, tasks, powers and organizational structure of the Ministry of Finance

Pursuant to the Decree No. 56/2009/ND-CP dated April 17, 2013 of the Government on assistance to the development of small-and medium sized enterprises

Pursuant to the Decision No. 601/QD-TTg dated April 17, 2013 of the Prime Minister on establishing medium and small enterprise development fund

At the proposal of the Director of the Finance Department of Banks and Financial Organizations;

The Minister of Finance promulgates the Circular prescribing interest rate of the Development Fund of small-and medium sized enterprises.

Article 1.Interest rate in Vietnamese dong (VND) of the Development Fund of small-and medium sized enterprises is established according to the Decision No. 601 /QD-TTg dated April 17, 2013 of the Prime Minister as follows:

1. Interest rate for short term loans that are under 01 year (not including working capital) is 5.5%/year.

2. Interest rate for long term and medium term is 7.0%/year.

Article 2.Interest rate that is promulgated under Article 1 of this Circular shall be applied for disbursement of small-and medium sized enterprises since this Circular takes effect.

Article 3.Effect

1. This Circular takes effect on April 15, 2016.

2. The Board of Management, Director of the Development Fund of small-and medium sized enterprises, investors of projects, business projects of the the Development Fund of small-and medium sized enterprises and related units shall implement this Circular.

In the course of implementation, any arising problems should be reported promptly to the Ministry of Finance for consideration and settlement./.

For Minister

Deputy Minister

Tran Van Hieu