The Decision No. 29/2011/QD-TTg dated June 01, 2011 of the Prime Minister on issuing List of industries, lines receiving preferential interest rate when on-lending Government’s ODA loans

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Issuing body:	Prime Minister	Effective date:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Official number:	29/2011/QD-TTg	Signer:	Nguyen Tan Dung
Type:	Decision	Expiry date:	Updating
Issuing date:	01/06/2011	Effect status:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Fields:	Finance - Banking , Policy

SUMMARY

12 INDUSTRIES ARE ALLOWED TO RECEIVE ODA LOANS WITH PREFERENTIAL INTEREST RATES

On June 01, 2011, the Prime Minister issued the Decision No. 29/2011/QD-TTg issuing List of industries, lines receiving preferential interest rate when on-lending Government’s ODA loans.

According to this list, there are 12 industries, lines receiving preferential interest rate when on-lending Government’s ODA loans such as building fresh water supply system for industries and urban livings; the projects on collecting and processing urban solid wastes and industrial solid wastes; processing industrial waste water; building and investing on equipments of health organizations which are capable of recovering capital; Investment and construction projects on education, training and vocational organizations which are capable of recovering capital; building railway; building highway; building deep-water harbor.

For finance, credit groups, credit program/composition via policy banks (Vietnam Development Bank, Vietnam Bank for Social Policies) or other financial and credit institutions for on-lending objectives in Government’s policy or in the particular design of credit program/composition approved by the Government.

According to the regulations in the Decree No. 78/2011/ND-CP on on-lending of the Government's foreign loans, this preferential interest rate is 30% interest rate for foreign currency loans or relevant Vietnam dong are not lower than the interest rate on foreign loans.

Programs and projects of on-lending ODA loans that on-lending conditions are approved by a competent agency before this Decision’s effective date continue to apply approved conditions. In the necessary cases, the Minister of Finance reports to the Prime Minister to consider, determine in amending, supplementing the List.

This Decision takes effect on July 20, 2011.

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Effect status: Known

THE PRIME MINISTER

Decision No. 29/2011/QD-TTg of June 1, 2011, promulgating the list of trades and sectors eligible for preferential interest rates when borrowing the Government’s official development assistance loans

THE PRIME MINISTER

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

Pursuant to the June 17, 2009 Law on Public Debt Management;

Pursuant to the Government’s Decree No. 78/2010/ND-CP of July 14, 2010, on on-lending of the Government’s foreign loans;

At the proposal of the Minister of Finance,

DECIDES:

Article 1. To promulgate together with this Decision the list of trades and sectors eligible for preferential interest rates when borrowing the Government’s official development assistance (ODA) loans (below referred to as the list), guiding Point c, Clause 2, Article 7 of the Government’s Decree No. 78/2010/ND-CP of July 14, 2010, on on-lending of the Government’s foreign loans.

Article 2.

1. This Decision takes effect on July 20, 2011.

2. Programs and projects borrowing ODA loans for which borrowing conditions are determined by competent agencies before the effective date of this Decision may apply those conditions. In case of necessity, the Minister of Finance shall report to the Prime Minister for consideration, amendment and supplementation of the list.

Article 3. Ministers, heads of ministerial-level agencies, heads of government-attached agencies and chairpersons of People’s Committees of provinces and centrally run cities shall implement this Decision.-

Prime Minister
NGUYEN TAN DUNG

List of trades and sectors eligible for preferential interest rates when borrowing the Government’s official development assistance loans

(Promulgated together with the Prime Minister’s Decision No. 29/2011/QD-TTg of June 1, 2011)

No.	Trades and sectors
I	Economic-technical-social infrastructure (regardless of investment areas except those specified in Item 1)
1	Construction of clean water supply works for industry and urban life (urban centers of grades 2, 3 and 4, except grade-5 urban centers funded by the state budget)
2	Projects to collect and treat urban and industrial solid waste, and treat industrial wastewater
3	Construction of and investment in equipment of health establishments capable of capital recovery
4	Projects to construct education and training establishments capable of capital recovery
5	Construction of railways (except for borrowing only equipment at common interest rates)
6	Construction of expressways
7	Construction of deep-water ports (except for borrowing only equipment at common interest rates)
II	Industry (regardless of investment areas)
1	Construction of power plants using environmentally friendly of new and renewable energy
2	Construction and installation of electricity distribution and transmission grids in rural areas
3	Construction and installation of information and communication infrastructure and telecommunications networks in rural areas
III	Finance, credit
	Credit programs/syndication through policy banks (Vietnam Development Bank and Social Policy Bank) or other finance and credit institutions for on-lending to the Government policy beneficiaries or under specific design of credit programs/syndication approved by the Government.
IV	Other projects eligible for on-lending in areas with socio-economic difficulties and exceptional socio-economic difficulties under the investment law, areas of Kh’me inhabitants, communes under Program 135, border communes under Program 120 and communes on coastal banks (excluding hydropower, thermopower, cement, and steel projects).

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The Decision No. 29/2011/QD-TTg dated June 01, 2011 of the Prime Minister on issuing List of industries, lines receiving preferential interest rate when on-lending Government’s ODA loans

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