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blue-check ODA projects have to pay commitment charges and management fees if they are late for disbursement progress

Official letter No. 5418/VPCP-QHQT dated August 7th, 2021 of the Government Office regarding implementation of proposals of the State Audit Office of Vietnam regarding management of public debts
Posted: 11/8/2021 8:02:38 AM | Latest updated: 11/8/2021 3:34:08 PM (GMT+7) | LuatVietnam: 5267 | Vietlaw: 521
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Relating to projects using ODA, foreign concessional loans, the Government notes that agencies managing the projects have to coordinate with the Ministry of Planning and Investment, the Ministry of Finance, etc. in carefully appraising the necessary, feasibility, plan for executing the projects, plan for allocating sites before proposing the signing of borrowing agreements in order to ensure disbursement of loans in accordance with the approved progress right after the borrowing agreements are signed and come into force.

With regard to projects that have been appraised and signed borrowing agreements, the Government requests that agencies allocating capital need to sufficiently allocate plan for mid-term public investment capital and plan for annual capital in line with progress of the projects.

Projects late for disbursement progress have to pay commitment charges, management fees according to announcement of the Ministry of Finance.

Ms Phuong Thao (VietlawOnline.com)
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Published Vietlaw's Newsletter No. 521
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