Decision 1656/QD-TTg 2019 on adjustment of loan levels for pupils and students

DECISION

On adjustment of loan levels for pupils and students

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THE PRIME MINISTER

Pursuant to the Law on Organization of the Government dated December 25, 2001;

Pursuant to the Government’s Decree No. 78/2002/ND-CP dated October 04, 2002, on credit for poor people and other policy beneficiaries;

Pursuant to the Prime Minister’s Decision No. 157/2007/QD-TTg dated September 27, 2007, regarding the credit applicable to pupils and students;

At the proposal of the Ministry of Finance in the Document No. 12472/ BTC-TCNH dated October 18, 2019, and the Document No. 11810/BTC-TCNH dated October 03, 2019,

DECIDES:

Article 1. Adjustment of loan levels specified in Clause 1, Article 5 of the Prime Minister’s Decision No. 157/2007/QD-TTg dated September 27, 2007, regarding the credit applicable to pupils and students as follows: The maximum loan is 2.5 million dong/month/pupil or student.

- The Ministry of Planning and Investment and the Ministry of Finance shall submit to competent authorities to balance and allocate loan capital, capital off-setting interest rate differences and management charges to the Bank for Social Policies for implementation of the Program after 2020 in accordance with the law.

- The Bank for Social Policies shall be responsible for lending, supervising and recovering debts in accordance with current law, within the scope of the credit growth plan of the Bank for Social Policies annually allocated by the Prime Minister; self-balancing capital sources from now until 2020 in the medium-term public investment plans for the 2016-2020 period approved by competent authorities.

Article 2. This Decision takes effect on December 01, 2019, applies to new disbursements from the effective date of this Decision.

Article 3. Ministers of the Ministry of Finance, Ministry of Planning and Investment, Ministry of Education and Training, Ministry of Labor, Invalids and Social Affairs; Governor of the State Bank of Vietnam; General Director of the Bank for Social Policies shall be responsible for the implementation of this Decision./.

The Prime Minister

Nguyen Xuan Phuc