What are regulations on fund allocation for the poverty reduction projects of Northern mountainous provinces of Vietnam - Phase 2?

What are regulations on fund allocation for the poverty reduction projects of Northern mountainous provinces of Vietnam -  Phase 2? (Illustrative image)

To be specific, in Clause 3, Article 7 of Circular 123/2010/TT-BTC stipulates that the allocation of investment capital must be based on the general process of State Budget allocation. To be specific:

- The Ministry of Planning and Investment allocates the investment capital plan to the Central Coordination Board in detail by capital sources: IDA loans and domestic counterpart funds, and simultaneously sends the capital allocation plan to the Ministry of Finance (Investment Department, Debt and External Finance Management Department, and State Treasury). The State Treasury is responsible for controlling the disbursement of project funds for the Central Coordination Board.

- The Provincial People's Committees implementing the project allocate the investment capital plan to the Provincial Project Management Boards, District Project Management Boards, and Program Implementation Boards, detailing by capital sources: IDA loans and domestic counterpart funds, and simultaneously send the capital allocation plan to the Ministry of Finance, with copies to the Provincial Department of Finance and the Provincial State Treasury for monitoring and control basis for capital disbursement.

- District People’s Committees send the allocated capital plan to the District Finance - Planning Department and District State Treasury for monitoring and control basis for capital disbursement for the project.

See more details at: Circular 123/2010/TT-BTC, effective from October 3, 2010.

Nguyen Phu

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