Maximize mobilization of credit capital for national target program in Vietnam

Bao Ngoc

16:15, 22/04/2022

On April 19, 2022, the Government of Vietnam issued Decree 27/2022/ND-CP on the mechanism for management and organization of the national target programs.

According to the Decree, regulations on mobilizing credit capital for the implementation of national target programs in Vietnam are as follows:

+ Maximize the mobilization of credit capital for the implementation of the national target program through credit policies for each object and content within the scope of investment in each national target program in Vietnam.

+ Based on the State's credit policies, the People's Committees of provinces in Vietnam shall submit them to the People's Councils of the same level for decision on the scale and allocation of local budgets to implement credit policies and provide credit support for each subject and field, contents, and activities of each national target program that must be consistent with the characteristics of the local socio-economic situation and the provisions of the law on management of policy credit capital.

In addition, the use of credit capital must comply with the provisions of each credit policy and the provisions of the law on credit activities; encourage entrusting lending through the banking system for social policies in Vietnam.

See also Decree 27/2022/ND-CP, which takes effect on April 19, 2022 and fully annuls Decision 41/2016/QD-TTg; Decree 161/2016/ND-CP.

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