To amend financial management mechanism applicable to ODA programs and projects

To amend financial management mechanism applicable to ODA programs and projects 10/08/2011 09:29:00 398

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On July 20, 2011, Minister of Finance approved Circular No. 107/2011/TT-BTC on amending some points in the Circular No. 40/2011/TT-BTC dated March 22, 2011 of the Ministry of Finance amending and supplementing a number of articles of the Ministry of Finance’s Circular No. 108/2007/TT-BTC of September 7, 2007, guiding the financial management mechanism applicable to official development assistance (ODA) programs and projects.

 

Accordingly, the Circular amends sub-clause (c), clause 2, Article 1 of the Circular 40. On the basis of the list of banks qualified for acting as service banks announced by the State Bank of Vietnam and the Ministry of Finance and the written requests of commercial banks, the agency presiding over the specific international treatment on ODA will consider the approval and choice of banks for ODA projects, and inform the negotiation partners for knowing and implementing.

 

In case more than one qualified commercial bank request to serve a single ODA project, priority shall be given to the following: banks experienced in serving ODA projects; state-owned commercial banks; and joint-stock commercial banks in which the State holds dominant shares.

 

This Circular takes effect on September 1, 2011. Any problems arising in the course of implementation should be promptly reported to the Ministry of Finance for guidance and coordinated settlement.

 

ĐPT