Decision No. 263/QD-NH21 On the management and use of the rescheduled loan funds of the Vietnam Investment and Development Bank within the framework of the project to modernize banks and payment systems

Pursuant to …;

On the management and use of the rescheduled loan funds of the Vietnam Development Bank within the framework of the Modernization of the Banking System and Payment System Project

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the State Bank Law dated May 23, 1990;
Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government on the tasks, powers, and responsibilities for state management of Ministries and ministerial-level agencies;
Pursuant to Decision No. 531/TTg dated July 12, 1997 of the Government Prime Minister on investment in the Modernization of the banking system and payment systems project;
Pursuant to the Development Credit Agreement No. 2785 VN signed between the Socialist Republic of Vietnam State and the World Bank on January 16, 1996;
Pursuant to the World Bank's Project Appraisal Report No. 14823-VN dated October 25, 1995;
Pursuant to Circular No. 3365 UB/VPTĐ dated September 30, 1995 of the National Appraisal Council Chairman submitting the Feasibility Study Project for the Modernization of the Banking System and Payment Systems to the Government Prime Minister for approval;
Pursuant to the World Bank's telecommunication to the Governor of the State Bank of Vietnam dated July 25, 1997 regarding the detailed allocation of costs under credit line 2785-VN;
At the proposal of the Project Management Board Chair,

Pursuant to …;

Article 1. The Vietnam Development Bank is authorized to reschedule a loan amount not exceeding US$7,750,000 (seven million seven hundred fifty thousand United States Dollars) from the World Bank loan funds within the framework of the Modernization of the Banking System and Payment Systems project to invest in the sub-project of Modernizing the Vietnam Development Bank.

Article 2. In accordance with the approved withdrawal plan and bidding plan, the General Director of the Vietnam Development Bank shall proactively implement the withdrawal of funds through the Project Management Board in accordance with the current World Bank disbursement regulations for the Project. The General Director of the Vietnam Development Bank shall be responsible for the validity of the withdrawal request and accompanying documents. The Project Management Board Chair shall be responsible for disbursing funds according to the General Director of the Vietnam Development Bank's requirements in compliance with the World Bank's disbursement regulations and procedures.

Article 3. The Vietnam Development Bank shall be responsible for contributing an equivalent amount of US$65,300 (sixty-five thousand three hundred United States Dollars) from the rescheduled loan funds specified in Article 1 above to the State Bank of Vietnam to hire consulting experts to support the Project Management Board in managing the overall project.

The Project Management Board Chair shall be responsible for managing and using the aforementioned contribution fund in accordance with the Development Credit Agreement, Feasibility Study Project, Government Prime Minister Investment Decision, and relevant legal documents on investment and construction management, foreign borrowing and repayment management.

Article 4. The Accounting and Finance Department shall be responsible for guiding the Project Management Board in accounting for the implementation of rescheduling, debt collection, interest collection, and repayment to the World Bank.

Article 5. This Decision shall take effect fifteen days from the date of signature. The Office of the Governor Director, Project Management Board Chair, Vietnam Development Bank Board of Directors Chairman, Vietnam Development Bank General Director, and heads of units directly under the State Bank related to this matter shall be responsible for implementing this Decision.