| THE STATE BANK OF VIETNAM ------- No. 18/2010/TT-NHNN | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom – Happiness --------- Hanoi, September 16, 2010 |
CIRCULAR
DETAILING THE PROVISION OF INTEREST RATE SUPPORT FOR ORGANIZATIONS AND INDIVIDUALS BORROWING MEDIUM- OR LONG-TERM LOANS FROM THE VIETNAM DEVELOPMENT BANK
THE STATE BANK OF VIETNAM
Pursuant to the Government's Resolution No. 30/2008/NQ-CP of December 11,2008, on urgent measures to curb economic decline, maintain economic growth and assure social welfare;
Pursuant to the Prime Minister s Decision No. 443/QD-TTg of April 4, 2009, on interest rate support for organizations and individuals borrowing medium- and long-term bank loans for investment in production and business development: and the Prime Minister's directing opinions in Document No. 670/TTg-KTTH of May 5, 2009, on the implementation of Decisions No. 131/QD-TTg of January 23, 2009, and No. 443/QD-TTg of April 4, 2009;
The State Bank of Vietnam details the provision of interest rate support for organizations and individuals borrowing medium- or long-term loans from the Vietnam Development Bank as follows:
Article 1. Purposes of interest rate support
The State provides interest rate supports for organizations and individuals borrowing medium- or long-term loans in Vietnam dong from the Vietnam Development Bank for the implementation of production and business development projects or infrastructure projects or for the performance of export contracts, aiming to reduce investment costs, increase production and business capacity and product competitiveness and create jobs.
Article 2. Subjects and scope of application of regulations on interest rate support
1. The Vietnam Development Bank shall provide loans to borrowers eligible for preferential loans and other loan borrowers specified in the Government's Decree No. 106/ 2008/ND-CP of September 19. 2008, amending and supplementing a number of articles of Decree No. 151/2006/ND-CP of December 20,2006, on state investment credit and export credit and other relevant documents.
2. Borrowers eligible for interest rate support are investors and exporters that borrow loans from the Vietnam Development Bank under regulations of the Government, the Prime Minister and the Ministry of Finance.
3. Loans eligible for interest rate support are Vietnam-dong medium- and long-term loans granted under credit contracts signed before or after April 1, 2009. but actually disbursed (in lump sum or installments) from April 1 to December 31, 2009. by the Vietnam Development Bank under the Government's and the Prime Minister's regulations, including:
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