Decision No. 44/2008/QD-BTC on the announcement of interest rates for state investment credit and export credit, and the level of interest rate differential to be calculated for post-investment support.

Pursuant to …;

Regarding the announcement of interest rates for state investment credit and export credit and

 the differential interest rate calculated to support after investment

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THE MINISTER OF FINANCE

Pursuant to Decree No. 77/2003/ND-CP dated July 1, 2003 of the Government on 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 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 Banking and Financial Institutions' Finance;

DECISION:

Article 1. Interest rate for state investment credit.

1. The interest rate for state investment credit in Vietnamese dong is 12.0%/year, and in foreign currency converted is 7.8%/year.

2. For projects constructing economic and social infrastructure; agricultural development and rural development projects; investment projects in areas with difficult socio-economic conditions, particularly difficult conditions; projects in areas where the Khmer ethnic group resides concentratedly, villages under Program 135, and border villages under Program 120, coastal villages, the interest rate for state investment credit in Vietnamese dong is 11.4%/year, and in freely convertible foreign currency is 7.2%/year.

Article 2. The interest rate for state export credit in Vietnamese dong is 14.4%/year, and in freely convertible foreign currency is 7.8%/year.

Article 3. The differential interest rate calculated to support after investment for projects borrowing in Vietnamese dong is 3.9%/year, and for projects borrowing in foreign currency is 0.96%/year.

Article 4. Loan contracts for investment credit and export credit signed before this Decision takes effect:

1. In cases where disbursement of loan funds has not been carried out before this Decision takes effect: implement according to the interest rate stipulated in this Decision.

2. In cases where part of the loan funds has already been disbursed before this Decision takes effect: continue to implement according to the interest rate stated in the signed credit contract.

Article 5. This Decision shall take effect 15 days from the date of publication in the Official Gazette and revoke Decision No. 75/2007/QD-BTC dated August 30, 2007 and Decision No. 06/2008/QD-BTC dated January 29, 2008 of the Minister of Finance on the interest rate for state investment credit and export credit and the differential interest rate calculated to support after investment.

The Chairman of the Management Board, General Director of the Vietnam Development Bank, and the project sponsors of state investment credit and export credit projects are responsible for implementing this Decision./.