THE MINISTRY OF FINANCE
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
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No. 77/2004/TT-BTC
Hanoi, August 4, 2004
 
CIRCULAR
GUIDING THE MECHANISM ON FINANCIAL MANAGEMENT AND DISBURSEMENT OF CAPITAL OF CENTRAL REGION LIVELIHOOD IMPROVEMENT PROJECT
Pursuant to Loan Agreement No. 1883 -VIE (SF) of April 2, 2002 signed between the Socialist Republic of Vietnam and the Asian Development Bank (ADB) for Central Region Livelihood Improvement Project;
Pursuant to the Financing Agreement signed on May 4, 2004 between the Socialist Republic of Vietnam Government and the Asian Development Bank- ADB on the non-refundable aid amount of the Department for International Development of the United Kingdom - DFID;
Pursuant to the Government's Decree No.17/2001/ND-CP of May 4, 2001 on promulgation of the Regulation on management and use of ODA capital sources;
Pursuant to the Government's Decree No. 52/1999/ND-CP of July 8, 1999 on the promulgation of the Regulation on Investment and Construction Management; Decree No.12/2000/ND-CP of May 5, 2000 and Decree No. 07/ND-CP of January 30, 2003 amending and supplementing a number of articles of the Investment and Construction Management Regulation issued together with Decree No. 52/1999/ND-CP of July 8, 1999;
Pursuant to the Government's Official Dispatch No.1001/CP-QHQT of November 6, 2001 approving the pre-feasibility study report of the Central Region Livelihood Improvement Project;
Pursuant to Joint Circular No. 666/2001/TTLT/BKH-UBDTMN-TC-XD of August 23, 2001 guiding the management of investment in, and construction of, infrastructure works under Program 135;
Pursuant to Decision No. 1619/QD-UB of August 5, 2002 of the People's Committee of Quang Tri province, approving the livelihood improvement project in Quang Tri province; Decision No. 515/QD-UB of July 30, 2002 of the People's Committee of Kon Tum province, approving the livelihood improvement project in Kon Tum province; Decision No. 1285/QD-UB of June 19, 2002 of the People's Committee of Quang Binh province, approving the livelihood improvement project in Quang Binh province; Decision No. 2189/QD-UB of August 28, 2002 of the People's Committee of Thua Thien- Hue province, approving the livelihood improvement project in Thua Thien-Hue province, under the ADB-funded Central Region Livelihood Improvement Project.
In order to ensure the uniformity in the financial management of the Project after the decentralization model, after reaching agreement with the Ministry of Planning and Investment, the Finance Ministry hereby issues this Circular guiding the mechanism for financial management and funding for the Central Region Livelihood Improvement Project as follows:
I. GENERAL PROVISIONS
1. Term interpretation
The perceptions and terms used in this Circular have the same meanings as those in the Loan Agreement and are construed as follows:
- The international financial institution financing the Project is the Asian Development Bank (abbreviated to ADB) and Department for International Development of the United Kingdom (abbreviated to DFID).
- The Loan Agreement is the Credit Agreement signed between Vietnam and ADB on the ADB's financial assistance to Vietnam (the borrowing party) with a loan in different currencies equivalent to 34,058,000 SDR for investment in the Project.
- Financing Agreement is the Agreement signed on May 4, 2004 between the Vietnamese Government and ADB on the non-refundable aid amount entrusted by the DFID as financial assistance to the Central Region Livelihood Improvement Project.