Decision No. 23/2017/QĐ-TTg amends and supplements certain articles of Decision No. 246/2006/QĐ-TTg dated October 27, 2006, of the Government on the establishment of the Cooperative Development Support Fund and the issuance of the Regulation on the operation of credit guarantee and post-investment interest rate support of the Cooperative Development Support Fund.

Pursuant to …;

Amending and supplementing some articles of Decision No. 246/2006/QĐ-TTg

dated October 27, 2006 of the Prime Minister on the establishment of the Cooperative Development Support Fund and promulgating

the Regulation on the Guarantee Credit and Post-Investment Interest Subsidy Activities of the Cooperative Development Support Fund

The Prime Minister issues this Decision to amend and supplement some articles of Decision No. 246/2006/QĐ-TTg dated October 27, 2006 of the Prime Minister on the establishment of the Cooperative Development Support Fund and promulgating the Regulation on the Guarantee Credit and Post-Investment Interest Subsidy Activities of the Cooperative Development Support Fund.

Amending and supplementing some articles of Decision No. 246/2006/QĐ-TTg dated October 27, 2006 of the Prime Minister on the establishment of the Cooperative Development Support Fund, specifically as follows:

Pursuant to the Law on the Organization of the Government dated September 16, 2015;

Pursuant to the Law on Cooperatives dated November 20, 2012;

Pursuant to Decree No. 193/2013/NĐ-CP dated November 21, 2013 of the Government detailing some provisions of the Law on Cooperatives;

At the proposal of the Minister of Finance;

Establishing the Cooperative Development Support Fund (hereinafter referred to as the Fund) under the Vietnam Union of Cooperatives to support cooperatives and cooperative unions in developing production and business activities, improving productivity, quality, and operational efficiency, contributing to economic restructuring, creating jobs, and increasing income for cooperatives and cooperative unions.

Clause 4 of Article 62. Clause 2 of Article 3 is amended and supplemented as follows:

1. Economic organizations conducting foreign exchange trading agency activities; economic organizations conducting foreign currency receipt and payment service provision activities; economic organizations conducting border country currency exchange agency activities.

"Article 1. "2. Supporting cooperative and cooperative union activities through the following methods:

b) Guaranteeing credit;

c) Post-investment interest subsidy."

3. Article 4 is amended as follows:

"Article 4. Scope of Support Provided by the Cooperative Development Support Fund

"1. The registered capital of the Cooperative Development Support Fund, funded from the state budget's development expenditure, will reach VND 500 billion by 2018 and VND 1000 billion by 2020.

The increase in the registered capital of the Fund shall be decided by the Prime Minister based on the proposal of the Vietnam Union of Cooperatives after obtaining the consensus of the Ministry of Finance and the Ministry of Planning and Investment."

“1. Members of the Committee are responsible for fully participating in all activities of the Committee; implementing tasks assigned by the Chairman of the Committee and being accountable to the Chairman of the Committee for the performance of these tasks;

5. Article 10 is amended as follows:

"Article 10. Financial Principles for the Activities of the Cooperative Development Support Fund

2. For loan provision:

a) Loan interest rates must ensure coverage of management costs and risk prevention;

b) Maximum loan amount is 80% of the total project investment;

c) Maximum loan term is five years;

d) Loan security: In specific cases, the Cooperative Development Support Fund decides on the form of loan security and bears responsibility according to the law.

3. For guarantee credit and post-investment interest subsidy:

a) Consistent with the financial resources of the Fund;

b) Self-covering of costs in operations;

c) Compliance with regulations on ensuring operational capital safety."

6. Amending Clause 4, Clause 5, and adding Clause 6 to Article 11 as follows:

"4. The Ministry of Planning and Investment is responsible for:

b) Implementing state management over the activities of cooperatives and cooperative unions according to this Decision.

5. The State Bank of Vietnam is responsible for supervising credit institutions in providing loans to cooperatives and cooperative unions as prescribed in this Decision.

6. Ministers, Heads of ministerial-level agencies, Heads of governmental agencies, Chairpersons of provincial and centrally-run city People's Committees, and related individuals and organizations are responsible for implementing this Decision."

This Decision also attaches the "Regulation on Guarantee Credit and Post-Investment Interest Subsidy Activities of the Cooperative Development Support Fund".

This Decision takes effect from August 15, 2017.