This Circular amends and supplements Joint Circular No. 42/LB-TT of 1997 on managing the loan capital from Vietnam Maritime Commercial Joint Stock Bank (VMB) for investment in three transportation projects. It provides detailed regulations on the use and repayment of the loan, as well as terms related to loan arrangement fees and loan management.
적용 범위
Directorate General of Roads of Vietnam, Vietnam Maritime Commercial Joint Stock Bank
핵심 사항
- The project to restore and upgrade National Highway 14, reconstruct and upgrade National Highway 51, and construct the new Lang-Hoa Lac Road is funded by a mixed capital source including 40% state budget allocation, 28 million USD borrowed from VMB, and preferential loans from the State (Point 1).
- VMB must provide the full 28 million USD loan according to the schedule stipulated in the contract signed with the Directorate General of Roads of Vietnam (Point 4).
- The fixed loan arrangement fee is 20,000 USD, the withdrawal fee is 0.1% of the withdrawn amount, and the annual loan management fee is 0.2% of the outstanding balance (Point 2).
- The credit agreement includes contents such as the total investment capital, annual credit plan, interest rate on the loan, loan term and repayment period, exchange rate for converting USD to VND and vice versa (Point 3).
- If traffic fee revenue is insufficient to repay the loan to VMB, the Directorate General of Roads of Vietnam must allocate funds from the general traffic bridge toll revenue to repay the loan when due (Point 5).
🌐 이 문서의 사회적 영향
- Enhance the management and effective use of loan capital for transportation projects.
- Reduce financial risks through specific provisions on loan repayment fees and exchange rates.
- Ensure that traffic fee revenue prioritizes loan repayment, minimizing negative impacts on the state budget.
❓ 자주 묻는 질문
What percentage of the state budget allocation does the restoration project of National Highway 14 receive?
The project receives 40% of the state budget allocation.
What is the fixed loan arrangement fee?
The fixed loan arrangement fee is 20,000 USD.
How is the exchange rate for converting USD to VND for the investor to settle the project volume specified?
The exchange rate for converting USD to VND is the average inter-bank market rate at the time VMB transfers funds to the project or the rate at which VMB sold USD from the 28 million USD loan.
Who will arrange the plan to repay the debt if traffic fee revenue is insufficient?
The Directorate General of Roads of Vietnam is responsible for allocating funds from the general traffic bridge toll revenue to repay the debt to VMB.
What are the main contents of the credit agreement?
The credit agreement includes the total investment capital, annual credit plan, interest rate on the loan, foreign loan repayment fee according to the loan agreement, loan term and repayment period, exchange rate for converting USD to VND and vice versa.
전문
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MINISTRY OF TRANSPORT-MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIETNAM |
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NUMBER: 69/2000/TTLT-BTC-BGTVT |
HANOI, July 14, 2000 |
CIRCULAR
JOINT CIRCULAR OF THE MINISTRY OF FINANCE AND THE MINISTRY OF TRANSPORTATION
NUMBER 69/2000/TTLT-BTC-BGTVT DATE JULY 14, 2000
AMENDING AND COMPLEMENTING THE JOINT MINISTERIAL CIRCULAR NUMBER 42 LB-TT DATE JULY 5, 1997
ON MANAGEMENT OF LOAN FUNDS FROM VIETNAM NATIONAL SHIPBUILDING COMMERCIAL BANK FOR THREE PROJECTS
NATIONAL HIGHWAY 14, 51, LANH-HOA LAC ROAD
Pursuant to Decree No. 52/1999/NĐ-CP dated July 8, 1999 of the Government on the issuance of the Investment Management and Construction Regulation and Decree No. 12/2000/NĐ-CP dated May 5, 2000 of the Government amending and supplementing certain articles of the Investment Management and Construction Regulation issued together with Decree No. 52/1999/NĐ-CP dated July 8, 1999 of the Government.
Pursuant to Decision No. 441/TTg dated July 2, 1996 of the Prime Minister on the financial plan for the projects National Highway 14, 51, Lanh-Hoa Lac Road and Circular No. 1877-KTN dated April 18, 1997 of the Prime Minister on the financial mechanism for the sub-project Chon Thanh-Dong Xoai; Pursuant to Circular No. 1027/CP-KTTH dated September 25, 1999 of the Government on the financial treatment for the three transportation projects National Highway 14, 51, Lanh-Hoa Lac Road;
To manage the use and repayment of investment construction funds from Vietnam National Shipbuilding Commercial Bank loans for the three projects restoring and upgrading National Highway 14 section Chon Thanh-Buon Ma Thuot; reconstructing and upgrading National Highway 51 section km 5 - km 73+600; constructing new Lanh-Hoa Lac Road;
The Ministry of Finance and the Ministry of Transportation amend and complement Joint Circular No. 42 LB-TT dated July 5, 1997 on managing loan funds from Vietnam National Shipbuilding Commercial Bank for the three projects National Highway 14, 51, Lanh-Hoa Lac Road as follows:
PART I: GENERAL PROVISIONS ARE AMENDED AND COMPLEMENTED AS FOLLOWS:
1/ Point 1 is amended and supplemented as follows:
1. The projects restoring and upgrading National Highway 14 section Chon Thanh-Buon Ma Thuot; reconstructing and upgrading National Highway 51 section km 5 - km 73+600; constructing new Lanh-Hoa Lac Road are invested using mixed capital including state budget capital (40%), loan capital from Vietnam National Shipbuilding Commercial Bank (28 million USD) and preferential loan capital from the state.
2/ Point 2 is amended and supplemented as follows:
2. When the project is completed and put into operation, traffic fees will be collected according to the regulations of the Ministry of Finance on collecting and managing fees applicable to the three projects after reaching agreement with the Ministry of Transportation. Traffic fees collected shall be prioritized to repay the loan to Vietnam National Shipbuilding Commercial Bank and the state's preferential loan capital after deducting costs for the fee collection unit.
3/ Point 4 is amended and supplemented as follows:
4. Vietnam National Shipbuilding Commercial Bank is responsible for lending the three projects National Highway 14, 51, Lanh-Hoa Lac Road a total of 28 million USD (US dollars) in accordance with the schedule stipulated in the loan contract signed with the Vietnam Highway Administration.
PART II: SPECIFIC PROVISIONS ARE AMENDED AND COMPLEMENTED AS FOLLOWS:
1/ Point 2 is amended and supplemented as follows:
2. The Vietnam Highway Administration is the direct investor signing supplementary and amended loan contracts related to the three projects National Highway 14, 51, Lanh-Hoa Lac Road with Vietnam National Shipbuilding Commercial Bank to align with the conditions under which Vietnam National Shipbuilding Commercial Bank has borrowed from abroad, including fees paid to Vietnam National Shipbuilding Commercial Bank.
- Fees paid to Vietnam National Shipbuilding Commercial Bank include:
+ Fixed loan arrangement fee, payable once at 20,000 USD.
+ Withdrawal fee each time at 0.1% of the value of the withdrawn amount.
+ Loan management fee at 0.2% annually calculated on the outstanding balance of the loan between Vietnam National Shipbuilding Commercial Bank and the Vietnam Highway Administration.
2/ Point 3 is amended and supplemented as follows:
3. The contents of the credit contract include:
+ Total approved investment amount for the three projects according to the investment decision.
+ Annual credit investment plan using loan capital.
+ Investment content.
+ Loan amount.
+ Interest rate on borrowed capital.
+ Foreign payment fees according to the loan contract between Vietnam National Shipbuilding Commercial Bank and the foreign party.
+ Fees paid to Vietnam National Shipbuilding Commercial Bank.
+ Loan term, repayment term (principal and interest), start date of repayment (principal and interest), repayment period and repayment amount per period.
+ Borrowed capital and repayment are calculated in VND (Vietnamese Dong) and converted to USD according to the following provisions:
- Exchange rate for converting from USD to VND for the investor to settle the volume of work for the three projects is the average inter-bank market exchange rate at the time Vietnam National Shipbuilding Commercial Bank transfers money to the three projects or the exchange rate at which Vietnam National Shipbuilding Commercial Bank sold USD from the 28 million USD loan at appropriate times in accordance with the State Bank of Vietnam's regulations.
- Exchange rate for converting from VND to USD for repayment is the buying rate on the inter-bank market within the range of exchange rates announced by the State Bank of Vietnam at the time of repayment.
+ Responsibilities and commitments to implement the loan contract of the borrowing entity and the lending authority.
+ The credit contract is prepared in six copies, sent to:
- Vietnam National Shipbuilding Commercial Bank
- Vietnam Highway Administration.
- State Treasury where the project account is opened.
3/ Amend item 6 of point 4 as follows:
- The loan, repayment, and accounting in VND are converted to USD according to the exchange rate specified in the amendment of point 2.
4/ Add the following new content to the end of point 5:
- In case the traffic fee revenue of the three projects is insufficient to repay Vietnam National Shipbuilding Commercial Bank, from the beginning of the year, the Vietnam Highway Administration is responsible for arranging the plan from the general bridge and road toll revenue to repay Vietnam National Shipbuilding Commercial Bank when due. If still insufficient, the Ministry of Transportation and the Ministry of Finance will consider and report to the Government for a decision.
The amendments and supplements to this Circular take effect concurrently with the effective date of Joint Circular No. 42 LB-TT dated July 5, 1997 on managing loan funds from Vietnam National Shipbuilding Commercial Bank for the three projects National Highway 14, 51, Lanh-Hoa Lac Road.
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PHAM DU ANH; (Signed) |
Vu Van Ninh (Signed) |
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