Vietnam: Guidelines for the request dossier for interest rate support for passenger transport

According to Article 7 of Circular No. 02/2016/TT-BTC of the Ministry of Finance of Vietnam, to be entitled to interest rate support for organizations or individuals obtaining borrowed funds from credit institutions for implementation of transport vehicle and infrastructure investment projects in the public passenger bus service sector in accordance with Clause 3 Article 4, Clause 3 Article 5 of the Prime Minister’s Decision No. 13/2015/QD-TTG, investment project owners shall prepare the following documents:

- The request form for interest rate support for loans received from credit institutions to invest in transport vehicle and infrastructure for the public passenger bus service sector, submitted by the project owner and certified by local governments of jurisdictions where such investment project is located (according to the Appendix 1 and 2 to this Circular).

- The statement of approval by competent authorities of transport vehicle and infrastructure investment projects for the public passenger bus service sector, as defined in laws and regulations.

- Credit facility agreement.

- Statement on loan principal, interest, documents or equivalents certified by credit institutions, stating that the project owner is receiving loans from these credit institutions which are unmatured and used for predetermined purposes to implement transport vehicle and infrastructure investment projects for the public passenger bus service sector.

- Statement or calculation factsheet of the interest amount in question which is determined as follows:

+ The interest amount of a loan qualifying for interest rate support shall be calculated according to the following formula:

Where:

- Interest rate support level shall conform to regulations laid down in Article 5 hereof and shall be calculated in a unit of % month.

- n means the actual number of days left to maturity in a validity period of interest rate support.

- Outstanding loan debt qualifying for interest rate support means the portion of outstanding debt owed by a project owner to a credit institution eligible for interest rate support in accordance with the Decision granted by the provincial People’s Committee.

+ The interest amount of a loan qualifying for interest rate support of a project owner refers to the total amount of interest rate support for all loans eligible for interest rate support of that project owner.

A project owner may submit the request dossier for interest rate support in person or by post. If submitted by post, required papers or documents included in a request dossier must be authentic or certified copies. The date of receipt of that dossier shall refer to a postmark. If submitted by post, required papers or documents included in a request dossier must be authentic or certified copies, or duplicate ones with attached originals for verification purposes.

View details at Circular No. 02/2016/TT-BTC of the Ministry of Finance of Vietnam, effective from January 20, 2016.

Thu Ba

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