Decision No. 291/QD-BTC dated February 12, 2009 of the Ministry of Finance promulgating interest rates of state export and investment credit loans and interest rate difference for calculating post-investment assistance

DECISION

PROMULGATING INTEREST RATES OF STATE EXPORT AND INVESTMENT CREDIT LOANS AND INTEREST RATE DIFFERENCE FOR CALCULATING POST-INVESTMENT ASSISTANCE

THE MINISTER OF FINANCE

Pursuant to Decree 118/2008/ND-CP of the Government dated 27 November 2008 on the functions, duties, powers and organizational structure of the Ministry of Finance;

Pursuant to Decree 151/2006/ND-CP of the Government dated 20 December 2006 on State export credit loans and State investment credit loans as amended by Decree 106-2008-ND-CP of the Government dated 19 September 2008;

Pursuant to Decree 106/2008/ND-CP of the Government dated 19 September 2008 amending Decree 151/2006/ND-CP of the Government dated 20 December 2006 mentioned above;

Pursuant to Resolution 30/2008/NQ-CP of the Government dated 11 December 2008 on urgent solutions for alleviating the economic downturn by preserving economic growth and ensuring the welfare of society;

Pursuant to Circular 69/2007/TT-BTC of the Ministry of Finance dated 25 June 2007 with guidelines on the above-mentioned Decree 151-2006-ND-CP;

Pursuant to Circular 16/2009/TT-BTC of the Ministry of Finance dated 22 January 2009 with further guidelines on the above-mentioned Circular 69-2007-TT-BTC and Decree 151-2006-ND-CP;

On the proposal of the Director of the Department of Finances of Banks and Financial Institutions;

DECIDES

Article 1. The interest rate of State investment and State export credit loans denominated in Vietnamese dong shall be 6.9% (six point nine per cent) per annum, and for loans denominated in a convertible foreign currency shall be 5.4% (five point four per cent) per annum.

Article 2. The interest rate difference for calculating post-investment assistance applicable to loan projects denominated in Vietnamese dong shall be 2.1% (two point one per cent) per annum, and for loan projects denominated in a foreign currency shall be 0.6% (zero point six per cent) per annum.

Article 3. This Decision shall be of full force and effect from the date of its signing and shall replace Decision 114/2008/QD-BTC of the Minister of Finance dated 5 December 2008 promulgating interest rates of State export and investment credit loans and the interest rate difference for calculating post-investment assistance.

Chairmen of boards of management and general directors of Vietnam's development banks, and investors of State export credit loan projects and of State investment credit loan projects shall be responsible for implementation of this Decision.