What are regulations on counterpart funds for preparing and implementing the program/project with the hybrid financial mechanism in Vietnam?
What are regulations on counterpart funds for preparing and implementing the program/project with the hybrid financial mechanism in Vietnam? What are regulations on program/project in Vietnam that is not approved or concluded at the same time as the annual budget estimates? What are regulations on the norms of the counterpart fund in Vietnam?
What are regulations on counterpart funds for preparing and implementing the program/project with the hybrid financial mechanism in Vietnam?
Pursuant to Clause 5, Article 44 of the Decree 114/2021/ND-CP stipulating counterpart funds for preparing and implementing the program/project with the hybrid financial mechanism in Vietnam as follows:
5. For a programs/project with the hybrid financial mechanism (the combined grant and on-lending mechanism): The managing agency or the project owner shall allocate sufficient counterpart fund in accordance with applicable regulatory provisions before signing the on-lending agreement.
What are regulations on program/project in Vietnam that is not approved or concluded at the same time as the annual budget estimates?
Pursuant to Clause 6, Article 44 of the Decree 114/2021/ND-CP stipulating program/project eligible for grant from the state budget that is not approved or concluded at the same time as the annual budget estimates, and hence not provided with counterpart fund in Vietnam as follows:
6. Regarding the program/project eligible for grant from the state budget that is not approved or concluded at the same time as the annual budget estimates, and hence not provided with counterpart fund: The managing agency shall request the Ministry of Planning and Investment and the Ministry of Finance in writing to take actions within their jurisdiction, or seek the competent authority’s decision on supplementation of the annual budget estimate.
If the counterpart fund plan is not made at the same time as the annual budget plan, the managing agency shall provide it from the allocated capital. If the managing agency is not able to provide counterpart fund, it shall request the Ministry of Planning and Investment and the Ministry of Finance in writing to seek approval of capital advance, which will be then deducted from the next year’s budget plan.
What are regulations on the norms of the counterpart fund in Vietnam?
Pursuant to Clause 7, Article 44 of the Decree 114/2021/ND-CP stipulating norms of the counterpart fund in Vietnam as follows:
7. Norms of the counterpart fund shall be aligned with the state budget spending norms and conform to the regulations laid down in relevant legislation.
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