Approval of Specific Mechanisms for Da Nang City

16:54, 11/07/2024

the Government of Vietnam has just promulgated Decree 144/2016/ND-CP regulating several specific mechanisms on investment, finance, budget, and management decentralization for the city of Da Nang (abbreviated as the City).

Many policies for loan capital and support for the City from the central government budget include:

- Borrowing domestically through the issuance of local government bonds and other forms of mobilization;- On-lending from the Government of Vietnam's borrowed funds to local budgets;- Prioritized partial support from the central budget for the City's budget to implement projects under the public-private partnership (PPP) model;- Prioritized allocation of sufficient target-specific supplementary funds for the City's Budget to implement socio-economic development projects for the City and the Central and Western Highlands regions.

In addition, the Government of Vietnam prioritizes mobilizing official development assistance (ODA) funds and concessional loans from foreign donors for the City.

More details can be found in Decree 144/2016/ND-CP, effective from January 1, 2017, which repeals Decision 13/2006/QD-TTg.

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