Circular No. 69/2012/TT-BTC dated May 3, 2012 of the Ministry of Finance guiding the management and use of the proceeds from the Japanese Government’s non-refundable aid for the Food Security Project for Underprivileged Farmers (2KR project)

AID GOODS’ SALE FOR 2KR PROJECT USED FOR DEVELOPMENT INVESTMENT PROJECTS

On May 03, 2012, the Ministry of Finance issued the Circular No. 69/2012/TT-BTC guiding the management and use of the proceeds from the Japanese Government’s non-refundable aid for the Food Security Project for Underprivileged Farmers (2KR project).

Accordingly, the proceeds from the sale of aid goods for 2KR project must be transferred into a separate account at a bank and used for development investment projects.

Based on the agreement stated in the Diplomatic Note between the two governments and related agreements, the Ministry of Planning and Investment shall coordinate with the Ministry of Agriculture and Rural Development, the Ministry of Finance and the Japanese Government’s representative in selecting projects eligible for using the proceeds from the sale of aid goods under the non-refundable aid of Japanese Government for 2KR project. The total amount of money allocated to the projects must not exceed the total aid amount.

Project owners shall estimate, submit for approval, manage, use, report and finalize their projects’ investment capital under current regulations on capital construction investment, and use capital for proper purposes as stated in the approved projects.