Công văn 3936/NHNN-CSTT

Upon proposal by several commercial banks, the State Bank of Vietnam hereby provides guidance on the interest rate support to medium, long term loans in Vietnamese dong for realizing new investment project in many industries, economic sectors under the Decision No. 443/QD-TTg dated 04/04/2009 of the Prime Minister and the Circular No. 05/TT-NHNN dated 07/04/2009 of the Governor of the State Bank as follows:

1. The commercial banks, finance companies and borrowers shall specifically classify each (work) item of construction, procurement by purpose (function) of the business – production activity, amount of investment capital and loan funds. In respect of loans for execution, procurement for (work) items of construction which are classified as credit extended to the industry, economic sector entitled to interest rate support, the interest rate support shall be implemented in accordance with provisions of applicable laws.

2. Where it is unable to classify specifically purpose (function) of the business – production activity, amount of investment capital and loan funds of each (work) item of construction, the commercial banks, finance companies shall base on provisions on major economic activity in section I, Part II of the Contents and principles of classifying national economic sectors at the Decision No.143 TCKT/PPCD dated 22/12/1993 of the General Statistics Office, the Decision No. 477/2004/QD-NHNN dated 28/04/2004 of the Governor of the State Bank and contents of investment projects to list outstanding loans in appropriate industries, economic sectors in line with these Decisions. If outstanding loans are classified as credit extended to industries, economic sectors entitled to interest rate support, the interest rate support shall be implemented in accordance with provisions of applicable laws.