This Circular reduces the interest rate for state export credit loans from 9% per annum to 8.7% per annum. The Circular applies to disbursements of export credit loan funds from the date it comes into effect.
Scope of application
Vietnam Development Bank, the project sponsors of state investment credit and export credit loans, and related units
Key points
- The interest rate for export credit loans denominated in Vietnamese dong is 8.7% per annum (Article 1)
- The new interest rate applies to disbursements of export credit loan funds from the date this Circular takes effect (Article 2)
- This Circular takes effect from the date of issuance (Article 3)
- The Management Board, General Director of Vietnam Development Bank, and related units must implement the provisions of this Circular (Article 3)
- Organizations and individuals shall promptly report to the Ministry of Finance if there are difficulties during implementation
🌐 Social impact of this document
- Reducing the financial burden on project sponsors of export credit projects
- Enhancing the competitiveness of Vietnamese goods in the international market
- Organizations and individuals concerned must comply with the new regulations
❓ Frequently asked questions
What is the interest rate for export credit loans denominated in Vietnamese dong?
8.7% per annum (Article 1)
When will the new interest rate be applied?
It will apply to disbursements of export credit loan funds from the date this Circular takes effect (Article 2)
Who is responsible for implementing the provisions of this Circular?
The Management Board, General Director of Vietnam Development Bank, and related units must comply with the provisions of this Circular (Article 3)
When does this Circular take effect?
It takes effect from the date of issuance (Article 3)
What should be done if encountering difficulties during implementation?
Promptly report to the Ministry of Finance for consideration and resolution
Full text
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MINISTRY OF FINANCE --------- |
SOCIALIST REPUBLIC OF VIET NAM ---------------------------------- |
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NUMBER: 126/2013/TT-BTC |
HA NOI, SEPTEMBER 3, 2013 |
CIRCULAR
AMENDING CIRCULAR NO. 77/2013/TT-BTC DATED JUNE 4, 2013 OF THE MINISTRY OF FINANCE
ON THE LEVELS OF INTEREST RATES FOR INVESTMENT CREDIT LOANS AND EXPORT CREDIT LOANS
The State and the level of interest rate differential to be calculated as post-investment support
Pursuant to Decree No. 118/2008/NĐ-CP dated November 27, 2008 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 VIETNAM DEVELOPMENT BANK AS STATED IN LETTER NO. 82/HĐQL.M DATED AUGUST 7, 2013 REGARDING THE ADJUSTMENT OF THE INTEREST RATE FOR STATE EXPORT CREDIT LOANS;
At the proposal of the Director of the Department of Banking and Financial Institutions;
THE MINISTER OF FINANCE ISSUES THIS CIRCULAR TO AMEND CIRCULAR NO. 77/2013/TT-BTC DATED JUNE 4, 2013 OF THE MINISTRY OF FINANCE ON THE LEVELS OF INTEREST RATES FOR STATE INVESTMENT CREDIT LOANS AND STATE EXPORT CREDIT LOANS AND THE LEVELS OF INTEREST RATE DIFFERENTIALS TO BE CALCULATED AS SUPPORT AFTER INVESTMENT AS FOLLOWS:
Article 1. AMEND ARTICLE 2 OF CIRCULAR NO. 77/2013/TT-BTC AS FOLLOWS:
THE INTEREST RATE FOR STATE EXPORT CREDIT LOANS IN VIETNAMESE DONG IS 8.7% PER ANNUM.
Article 2. THE LEVEL OF INTEREST RATE FOR STATE EXPORT CREDIT LOANS SHALL APPLY TO THE DISBURSEMENT OF FUNDS FROM STATE EXPORT CREDIT LOANS FROM THE DATE THIS CIRCULAR TAKES EFFECT.
Article 3. THIS CIRCULAR SHALL TAKE EFFECT FROM THE DATE OF SIGNATURE. THE MANAGEMENT BOARD, CHIEF EXECUTIVE OFFICER OF THE VIETNAM DEVELOPMENT BANK, THE PROJECT SPONSORS OF STATE INVESTMENT CREDIT LOANS AND STATE EXPORT CREDIT LOANS, 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./.
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Place of Receipt: |
DEPUTY MINISTER |
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