Not Using Foreign Loans for Regular Expenditures

12:25, 11/07/2024

This is the directive of the Prime Minister of the Government of Vietnam in Directive 37/CT-TTg on strengthening the management and supervision of borrowing and re-lending to local governments.

The Prime Minister requires the Ministries, ministerial-level agencies, agencies under the Government of Vietnam, and the People's Committees of provinces and cities to effectively implement the following contents:

- Do not use foreign loans for recurrent expenditures, only use them for development investment;- Manage local government borrowing and debt repayment strictly, ensuring not to exceed the maximum debt limit of each province or city as stipulated by the State Budget Law 2015;- Prioritize the use of ODA loans with high preferential conditions for important and urgent programs and projects of localities when investment proposals arise;- When implementing the plan for foreign borrowing and repayment, localities should prioritize disbursing ODA and concessional foreign loans borrowed for on-lending as committed to the donors.

See details in Directive 37/CT-TTg dated September 21, 2017.

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