Ensuring Loan Guarantees When Borrowing State Investment Credit

22:15, 11/07/2024

This is the content stipulated in Decree 32/2017/ND-CP on State investment credit, which was just promulgated on March 31, 2017.

The assurance of loan security is stipulated as follows:

- Customers, when borrowing State investment credit to invest in a project, must take measures to secure the loan at the Vietnam Development Bank in accordance with the law on secured transactions. For each project, the Vietnam Development Bank will review and make specific decisions on the loan security measures in accordance with the law. For special projects, the decision is made by the Prime Minister of the Government of Vietnam.- The Vietnam Development Bank and the customer shall conduct loan security procedures in accordance with the law on secured transactions.- The Vietnam Development Bank has the right to handle secured assets to recover debts in accordance with the law on secured transactions.

More details can be found in Decree 32/2017/ND-CP effective from May 15, 2017.

- Ngoc Duyen -

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