Circular No. 108/2014/TT-BTC stipulates the interest rate for state investment credit and export credit loans and the level of interest rate differential calculated to support after investment

CIRCULAR

Regulations on interest rates for investment credit loans and export credit loans of

The State and the level of interest rate differential to be calculated as post-investment support

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

Pursuant to Decree No. 75/2011/NĐ-CP dated August 30, 2011 of the Government on state investment credit and export credit;

At the request of the Chairman of the Management Council of the Vietnam Development Bank in Circular No. 24/HĐQL dated May 16, 2014, and Circular No. 51/HĐQL dated July 17, 2014 regarding the adjustment of interest rates for investment credit and export credit loans of the State;

At the proposal of the Director of the Department of Banking and Financial Institutions;

The Minister of Finance hereby promulgates this Circular stipulating the interest rates for state investment credit and export credit and the level of interest rate differential to be calculated as post-investment support.

Article 1. The interest rate for State investment credit loans denominated in Vietnamese dong is 10.5% per annum.

Article 2. The interest rate for State export credit loans denominated in Vietnamese dong is 7.8% per annum.

Article 3. The level of interest rate differential to be calculated as post-investment support for projects borrowing in Vietnamese dong is 2.4% per annum.

Article 4. The interest rates for State investment credit loans and export credit loans prescribed in Article 1 and Article 2 of this Circular shall apply to disbursements of investment credit loans and export credit loans of the State from the date this Circular takes effect; the differential interest rate for post-investment support prescribed in Article 3 of this Circular shall be applied according to each repayment by the project sponsor to the financial institution from the date this Circular takes effect.

Article 5. Effective Date

1. This Circular takes effect from the date of signature.

2. This Circular replaces Circular No. 77/2013/TT-BTC dated June 4, 2013 on the regulation of interest rates for State investment credit loans and export credit loans and the differential interest rate for post-investment support; Circular No. 126/2013/TT-BTC dated September 3, 2013 of the Ministry of Finance amending Circular No. 77/2013/TT-BTC dated June 4, 2013 of the Ministry of Finance on the regulation of interest rates for State investment credit loans and export credit loans and the differential interest rate for post-investment support; and Circular No. 161/2013/TT-BTC dated November 14, 2013 of the Ministry of Finance amending and supplementing Circular No. 77/2013/TT-BTC dated June 4, 2013 of the Ministry of Finance on the regulation of interest rates for State investment credit loans and export credit loans and the differential interest rate for post-investment support.

3. The Management Council, General Director of the Vietnam Development Bank, sponsors of projects borrowing investment credit loans and export credit loans of the State, and related units are responsible for implementing the provisions of this Circular.

In the course of implementation, if there are difficulties, organizations and individuals are requested to promptly report to the Ministry of Finance for consideration and resolution.