Principles of use of funds of Vietnam Environment Protection Fund

1. Development Investment Fund is used as an additional source for the Fund’s charter capital.

2. Commendation Fund is used to

- Give bonus to officials and staff at the end of year or periodically;

- Give unexpected bonus to individuals or collectives for innovations in technical improvements and business processes that bring efficiency to operations of the Fund;

- Give bonus to individuals or units outside the Fund for significant contributions to operations and management of the Fund.

The Management Board shall promulgate regulations on commendations for the Fund to implement.

3. Welfare Fund is used to:

- Finance activities of investment and construction or repair work, serve as an additional capital for the construction of welfare works of the Fund or general welfare works of the Sector;

- Finance public welfare activities of officials and staff, social welfare;

- Provide financial assistance for unexpected financial difficulties faced by officials and staff of the Fund including those who are retired or loss of working capacity;

- Finance other welfare activities;

Use of Welfare Fund is decided by the director of the Fund after consulting with the Fund’s Union.

4. Use of the funds above must be in compliance with regulations on financial disclosure, democracy at grass-root levels and state regulations.

View more details at Circular No. 132/2015/TT-BTC of the Ministry of Finance of Vietnam, effective from January 01, 2016.

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