Decision No. 60/2009/QD-TTg amending and supplementing certain provisions of Decision No. 14/2009/QD-TTg dated January 21, 2009, issued by the Prime Minister on the Guarantee Regulations for Enterprises Borrowing from Commercial Banks.

Pursuant to …;

Article 1. Amending Clause 1 and supplementing Clause 3 of Article 3 of Decision No. 14/2009/QĐ-TTg dated January 21, 2009 of the Prime Minister as follows:

1. Amend Clause 1 of Article 3 as follows:

"1. Amending and supplementing Clause 2 of Article 15 of Decision No. 193/2001/QĐ-TTg dated December 20, 2001 by Clause 5 of Article 5 of the Regulation issued together with this Decision."

2. Supplementing Clause 3 of Article 3 as follows:

"3. Replacing Article 18 of Decision No. 193/2001/QĐ-TTg dated December 20, 2001 by Clause 1 of Article 8 of the Regulation issued together with this Decision."

Article 2. Amending and supplementing some provisions of the Guarantee Regulation for Enterprises Borrowing from Commercial Banks issued together with Decision No. 14/2009/QĐ-TTg dated January 21, 2009 of the Prime Minister as follows:

1. Amend Article 1 as follows:

"Article 1. Objectives eligible for loan guarantee The objectives eligible for loan guarantee by the Vietnam Development Bank are enterprises belonging to various economic sectors (including Cooperatives) with a maximum charter capital of 20 billion VND or employing less than 1,000 workers (referred to collectively as enterprises in this Regulation)."

2. Amending Clause 2 of Article 2 as follows:

"2. Not providing guarantees for enterprises borrowing funds to implement projects or business plans in the fields of consultancy, real estate trading (except projects constructing houses for sale to low-income people; housing for workers and students to rent; construction of cemeteries), securities trading; borrowing funds to repay debts from other credit contracts."

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"3. Having no overdue debt at credit institutions. In cases where enterprises have overdue debt at credit institutions but have investment projects, business plans, and commitments to repay overdue debt, they may be assessed and decided upon for loan guarantee by the guarantor according to this Regulation."

4. Abolishing Clause 4 of Article 5.

5. Amending Clause 6 of Article 5 as follows:

"6. Using assets formed from borrowed funds to secure the guarantee at the guarantor."

6. Amending Article 7 as follows:

"Article 7. Term of loan guarantee The term of loan guarantee shall be consistent with the term of lending by the recipient of the guarantee (including any extension period if applicable)."

a) Regularly employed teachers working at state-owned training institutions: Apply the salary and allowances currently enjoyed by lecturers and teachers;

"3. Based on the enterprise's loan application and the guarantor's notification of approval for guarantee, the recipient of the guarantee shall consider and sign a credit contract with the enterprise. The recipient of the guarantee does not need to re-evaluate the conditions stipulated in Article 5 of this Regulation."

8. Amending Subpoint k of Clause 1 of Article 14 as follows:

"k) Refusing to fulfill the guarantee obligation when the guaranteed party uses the borrowed funds or assets formed from borrowed funds for purposes other than those agreed upon."

9. Amending Subpoint b of Clause 2 of Article 14 as follows:

"b) Monitoring the use of borrowed funds and assets formed from borrowed funds by the guaranteed party to ensure that they are used for the intended purpose as committed in the credit contract, safely, and effectively."

10. Amending the first bullet point of Clause 3 of Article 15 as follows:

"- Providing guidance and mechanisms to facilitate commercial banks in applying lower interest rates for loans with guarantees compared to their usual interest rates, thereby ensuring preferential actual interest rates for enterprises."

Article 3. This Decision shall take effect from the date of signing.

Article 4. Ministers, Heads of ministerial-level agencies, Heads of agencies under the Government, Chairpersons of People's Committees of provinces and centrally governed cities, Chairpersons of Management Councils, General Directors of the Vietnam Development Bank are responsible for implementing this Decision./.