Decision No. 291/QD-BTC announces the interest rates for state investment credit loans and export credit loans, along with the level of interest rate differential to be supported post-investment. The interest rates shall apply from the date of signing this decision.
Key points
- Borrowers of state investment credit loans and export credit loans → shall be granted loans at an interest rate of 6.9% per annum in Vietnamese dong, and 5.4% per annum in freely convertible foreign currency.
- Borrowers of state investment credit loans and export credit loans → shall be supported with an interest rate differential post-investment: 2.1% per annum for projects in Vietnamese dong, and 0.6% per annum for projects in foreign currency.
- The Chairman of the Management Board, General Director of the Vietnam Development Bank, and investors of borrowing projects → shall be responsible for implementing this decision.
🌐 Social impact of this document
- Positive impact: Reducing interest cost for borrowers, stimulating investment and exports.
- Negative impact: The Vietnam Development Bank may face pressure on profits.
❓ Frequently asked questions
What is the interest rate for state investment credit loans in Vietnamese dong?
The interest rate for state investment credit loans in Vietnamese dong is 6.9% per annum (Article 1).
What is the level of interest rate differential to be supported post-investment?
The level of interest rate differential to be supported post-investment: 2.1% per annum for projects in Vietnamese dong (Article 2).
What is the interest rate for state export credit loans in freely convertible foreign currency?
The interest rate for state export credit loans in freely convertible foreign currency is 5.4% per annum (Article 1).
When does this decision take effect?
This decision takes effect from the date of signing and replaces Decision No. 114/2008/QD-BTC (Article 3).
Which agencies are responsible for implementing this decision?
The Chairman of the Management Board, General Director of the Vietnam Development Bank, and investors of state investment credit loan and export credit loan projects shall be responsible for implementing this decision (Article 3).
Full text
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MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIET NAM |
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Decision No.: 291/QD-BTC |
Hanoi, February 12, 2009 |
Pursuant to …;
REGARDING THE ANNOUNCEMENT OF INTEREST RATES FOR STATE INVESTMENT CREDIT AND EXPORT CREDIT AND THE LEVEL OF INTEREST RATE DIFFERENTIALS TO BE SUPPORTED AFTER INVESTMENT
THE MINISTER OF FINANCE
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. 151/2006/ND-CP dated December 20, 2006 of the Government on state investment credit and export credit;
Pursuant to Decree No. 106/2008/ND-CP dated September 19, 2008 of the Government amending and supplementing certain Articles of Decree No. 151/2006/ND-CP of the Government on state investment credit and export credit;
Pursuant to Resolution No. 30/2008/NQ-CP of the Government on urgent measures to prevent economic decline, promote production, stimulate investment and consumption, maintain economic growth, and ensure social welfare;
Pursuant to Circular No. 69/2007/TT-BTC dated June 25, 2007 of the Ministry of Finance guiding certain provisions of Decree No. 151/2006/ND-CP dated December 20, 2006 of the Government on state investment credit and export credit;
Pursuant to Circular No. 16/2009/TT-BTC dated January 22, 2009 of the Ministry of Finance guiding amendments to Circular No. 69/2007/TT-BTC dated June 25, 2007 of the Ministry of Finance guiding certain provisions of Decree No. 151/2006/ND-CP dated December 20, 2006 of the Government on state investment credit and export credit;
At the proposal of the Director of the Department of Financial Affairs of Banks and Financial Institutions,
Pursuant to …;
Article 1. The interest rate for state investment credit and export credit in Vietnamese dong is 6.9% per annum, and in freely convertible foreign currency is 5.4% per annum.
Article 2. The level of interest rate differential to be supported after investment for projects borrowing in Vietnamese dong is 2.1% per annum, and for projects borrowing in foreign currency is 0.6% per annum.
Article 3. This Decision takes effect from the date of issuance and replaces Decision No. 114/2008/QD-BTC dated December 5, 2008 of the Minister of Finance on interest rates for state investment credit and export credit and the level of interest rate differentials to be supported after investment.
The Chairman of the Management Board, General Director of the Vietnam Development Bank, and the investors of projects borrowing state investment credit and export credit shall be responsible for implementing this Decision.
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Place of Receipt: |
DEPUTY MINISTER |
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