THE GOVERNMENT
-------
SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom – Happiness

---------
No. 78/2010/ND-CP
Hanoi, July 14, 2010
 
 
DECREE
ON ON-LENDING OF THE GOVERNMENT'S FOREIGN LOANS
 
THE GOVERNMENT
 
Pursuant to the December 25, 2001 Law on Organization of the Government;
Pursuant to the December 16, 2002 Law on State Budget;
Pursuant to the June 17, 2009 Law on Public Debt Management;
At the proposal of the Minister of Finance,
 
DECREES:
 
Chapter 1
GENERAL PROVISIONS
Article 1. Scope of regulation and subjects of application
1. This Decree provides conditions, process, procedures and responsibilities of agencies, organizations and individuals in the on-lending of the Government's foreign loans.
2. This Decree applies to agencies, organizations and individuals involved in the on- lending of the Government's foreign loans.
Article 2. Interpretation of terms
In this Decree, the terms below are construed as follows:
1. Foreign loan agreement means a capital-borrowing agreement, contract or deal concluded on behalf of the State, the Government or by the Ministry of Finance with a foreign lender in accordance with law.
2. On-lending agreement means an on-lending contract or a loan sub-agreement signed between the Ministry of Finance or the on-lending agency and the sub-borrower regarding the on-lending of the Government's foreign loans.
3. On-lending authorization contract means an agreement signed between the Ministry of Finance and the on-lending agency (in case the Ministry of Finance is not the on-lending agency) to authorize the on-lending agency, on behalf of the Ministry of Finance, to manage the use of loans by the sub-borrower, to recover the loans (including principal, interest and charge) for repayment to the state budget.
4. Accounting exchange rate means the exchange rate announced by the Ministry of Finance for accounting of and reporting on state budget revenues and expenditures in foreign currencies.