THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No: 39/2001/TT-BTC
Hanoi, June 05, 2001
 
CIRCULAR
GUIDING THE MANAGEMENT AND USE OF THE COOPERATION RECIPROCAL FUND OF THE KINGDOM OF BELGIUM, 2ND PHASE
Pursuant to the Special Agreement signed on December 7, 2000 between the Government of the Socialist Republic of Vietnam and the Government of the Kingdom of Belgium on the reduction of Vietnam’s foreign debts by Belgium and funding for projects in Vietnam (hereafter called Agreement for short), the Ministry of Finance provides the following guidance for the management and use of the Cooperation Reciprocal Fund of the Kingdom of Belgium in Vietnam 2nd Phase (hereafter called Reciprocal Fund II for short) set up from the Belgian debt conversion source under the Agreement:
I. GENERAL PROVISIONS:
1. The Ministry of Finance shall set up Reciprocal Fund II from the State budget�s source for repayment of debt to the Belgian Government.
2. The account of Reciprocal Fund II shall be opened at the Central State Treasury, owned by the Foreign Financial Relations Department of the Ministry of Finance and shall be used to cover VND expenditures of bilateral cooperation projects/programs within the framework of the cooperation program between Belgium and Vietnam in the period 2001-2003. The use of money from Reciprocal Fund II for these projects/programs shall be carried out through an agreement between the two governments.
3. The execution of Reciprocal Fund II shall be conducted by the Executive Board composed of the following members:
- The representative of the Ministry of Finance
- The representative of the Ministry of Planning and Investment
- The International Cooperation Counselor of the Belgian Embassy
- The representative of the Belgian Technical Cooperation Agency
- The representative of the Vietnamese agency performing the cooperation project/program.
The Ministry of Finance shall preside over meetings of the Executive Board.
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