Hanoi, Viet Nam, May 29, 2009. This Circular specifically guides disbursement, accounting, reporting and supervision regulations applicable to programs and projects financed with IFAD loans or IFAD aid and co-financed capital sources for IFAD projects which are subject to IFAD’s procedures.
2. Number, street, and room, suite number or PO box
Huettenstrasse 3
Common Consolidated Corporate Tax Base (CCCTB) HDB AG DATA BASE
Empirical Foundations of Information and Software Science III
The Harmonised Database is the world's largest goods and services database and is embedded in all EUIPO online filings and in classification tools such as TMClass or Similarity. The HDB contains terms that are agreed by all the regional and national IP offices of the EU together with EUIPO.
3. City or town
Duesseldorf
4. State/Province/Region
North Rhine - Westphalia
5. Country (including postal code)
Germany 40215
6. GIIN
G11998.GRPCH.SL.276
7. TIN
GR094504379
8. Filer contact (name)
Evangelos Goutos
9. Filer contact (title)
Mister
10. Filer contact (phone number)
+49 15222811272
Budget Preparation and Monitoring Information Systemicgfmconference
The delegation from the Republic of Serbia will provide an overview of the changes that are being introduced in the budgeting process in the Republic of Serbia, specifically the major shift from a line budget to program budgeting. Presenters include:
Mr. Ivan Maričić, Treasurer, Republic of Serbia
Mr. Milorad Ivšan, Senior Advisor, Division Head, Republic of Serbia
Ms. Danka Božić, Junior Advisor in the Public Debt Management Department, Republic of Serbia
2. Number, street, and room, suite number or PO box
Huettenstrasse 3
Common Consolidated Corporate Tax Base (CCCTB) HDB AG DATA BASE
Empirical Foundations of Information and Software Science III
The Harmonised Database is the world's largest goods and services database and is embedded in all EUIPO online filings and in classification tools such as TMClass or Similarity. The HDB contains terms that are agreed by all the regional and national IP offices of the EU together with EUIPO.
3. City or town
Duesseldorf
4. State/Province/Region
North Rhine - Westphalia
5. Country (including postal code)
Germany 40215
6. GIIN
G11998.GRPCH.SL.276
7. TIN
GR094504379
8. Filer contact (name)
Evangelos Goutos
9. Filer contact (title)
Mister
10. Filer contact (phone number)
+49 15222811272
Budget Preparation and Monitoring Information Systemicgfmconference
The delegation from the Republic of Serbia will provide an overview of the changes that are being introduced in the budgeting process in the Republic of Serbia, specifically the major shift from a line budget to program budgeting. Presenters include:
Mr. Ivan Maričić, Treasurer, Republic of Serbia
Mr. Milorad Ivšan, Senior Advisor, Division Head, Republic of Serbia
Ms. Danka Božić, Junior Advisor in the Public Debt Management Department, Republic of Serbia
Tunisia: Letter of Intent, Memorandum of Economic and Financial Policies, and...Afif Bejaoui
The following item is a Letter of Intent of the government of Tunisia, which
describes the policies that Tunisia intends to implement in the context of its
request for financial support from the IMF. The document, which is the
property of Tunisia, is being made available on the IMF website by agreement
with the member as a service to users of the IMF website
Article 1. The Purpose of the Law
1.1. The purpose of the present law is to determine the legal ground for accounting
principles, management and institution and to regulate the relationship pertaining to
the maintenance of accounting records and the preparation of financial statements of
the business entity or organization.
AC321 PNG Government Accounting Test Recording.pptxkapobrenden
Government accounting is a specialized branch of accounting that focuses on the financial management and reporting of government entities. It involves tracking and documenting public funds, ensuring transparency, and adhering to specific accounting standards applicable to the public sector. Government accountants play a crucial role in managing budgets, monitoring expenditures, and producing financial statements for public scrutiny. The complexity arises from the unique nature of government operations, such as multiple funds, regulations, and the need to balance social objectives with fiscal responsibility. The integration of accrual accounting, fund accounting, and compliance requirements distinguishes government accounting from traditional corporate accounting practices.
Tunisia: Letter of Intent, Memorandum of Economic and Financial Policies, and...Afif Bejaoui
The following item is a Letter of Intent of the government of Tunisia, which
describes the policies that Tunisia intends to implement in the context of its
request for financial support from the IMF. The document, which is the
property of Tunisia, is being made available on the IMF website by agreement
with the member as a service to users of the IMF website
Article 1. The Purpose of the Law
1.1. The purpose of the present law is to determine the legal ground for accounting
principles, management and institution and to regulate the relationship pertaining to
the maintenance of accounting records and the preparation of financial statements of
the business entity or organization.
AC321 PNG Government Accounting Test Recording.pptxkapobrenden
Government accounting is a specialized branch of accounting that focuses on the financial management and reporting of government entities. It involves tracking and documenting public funds, ensuring transparency, and adhering to specific accounting standards applicable to the public sector. Government accountants play a crucial role in managing budgets, monitoring expenditures, and producing financial statements for public scrutiny. The complexity arises from the unique nature of government operations, such as multiple funds, regulations, and the need to balance social objectives with fiscal responsibility. The integration of accrual accounting, fund accounting, and compliance requirements distinguishes government accounting from traditional corporate accounting practices.
RBI GUIDELINES: GUIDELINES FOR COMPROMISE SETTLEMENT OF DUES OF BANKS AND FIN...GK Dutta
As you are aware, the Indian Banks’ Association (IBA) has been issuing guidelines to member institutions for taking up of cases for settlement through Lok Adalats. The position
was reviewed and it was observed that banks have not taken adequate advantage of the Lok Adalats for compromise settlement of their NPAs. There are certain advantages in using the forum of Lok Adalats by banks and financial institutions in compromise settlement of their NPAs. There are no court fees involved when fresh disputes are referred to it. It can take cognizance of any existing suit in the court as well as look into and adjudicate upon fresh disputes. If no settlement is arrived at, the parties can continue with court proceedings. Its decrees have legal status and are binding. It has, therefore, been decided that with a view to making increasing use of the forum of Lok
Adalats to settle banking disputes involving smaller amounts, banks and financial institutions should follow the following guidelines for implementation.
The RBI has issued circular No. 32 dated 24th Nov 2015 revising the regulations related to External commercial borrowings. There are lot of key changes brought for ease of obtaining foreign funds by Indian parties. The list of eligible borrowers have been increased. the list of lenders from which the ECB can be taken, have been increased. The end use restrictions have mostly been removed with only the small negative list of end-use restrictions for which it cannot be used……therefore in the Foreign Funds world now, we may say that Negative is the new positive.
RBI issued notification permitting banks to open & maintain specific current & escrow accounts.
The follows issue of Circular on ‘Opening of Current Accounts by Banks - Need for Discipline’ dated August 6, 2020 and ensuing references received from banks seeking clarifications on operational issues regarding maintenance of current accounts already opened by the banks.
Vide the notification, RBI had issued FAQs giving clarifications pertaining to operational & regulatory requirements of the said circulars.
Hanoi, 26 – 28 September 2011. A training workshop titled Tools and Methodologies for Effective Knowledge Management, was co-organised by the International Fund for Agricultural Development (IFAD), the Rural Development Centre (RUDEC) and the Food and Agriculture Organisation (FAO) in Vietnam. Facilitated by Mr. Pham Vu Bang, a IFAD KM Officer from Mekong Delta’s Tra Vinh province, the workshop gathered Knowledge Management Officers from most of the IFAD-financed projects throughout Vietnam.
A short presentation given at a Knowledge Sharing workshop held in Hanoi, Vietnam, 26 – 28 September 2011.
The KS Tools and Methodologies for Effective Knowledge Management training workshop was co-organised by the International Fund for Agricultural Development (IFAD), the Rural Development Centre (RUDEC) and the Food and Agriculture Organisation (FAO) in Vietnam.
Community Driven Development and Gender Mainstreaming APMAS reportIFAD Vietnam
The Asian Project Management Support Programme (APMAS) CDD Report: Best Practices and Lessons Learned on Community Driven Development and Gender Mainstreaming from the APMAS training/workshops, Hanoi and Delhi, November/December 2010 (21 pages).
The Asian Project Management Support Programme (APMAS) aims to enhance capacity
of project managers in Vietnam, Cambodia, Laos and India to implement and effectively
manage gender sensitive, pro-poor rural development interventions, through training,
information access and innovation. Late 2010 MDF Indochina has implemented two 4-day
training programmes in Vietnam and India on Community Driven Development (CDD) and
Gender Mainstreaming, from which the below lessons were drawn. The report below is a
only a summary of highlights, as APMAS documented the events in full through pictures,
and also captured facts tools at its website.
Farmers organisations and quality chains in VietnamIFAD Vietnam
In all countries, demand for quality food is on the increase. Governments and multinationals are promulgating rules and standards regarding production conditions, inspections and certification. But smallholders often struggle to meet such conditions and to take advantage of these new opportunities.
Vietnam provides a good example of this issue. Demand for quality, safe and tasty food is rapidly increasing in domestic and international markets. Family farmers cultivating small areas – the vast majority of producers – cannot meet this demand adequately, despite active public policies in favour of quality. What can be done to remedy this situation?
Community Investment Funds - CIF Manual Cao BangIFAD Vietnam
Guideline on Implementing The Regulation on Decentralization and Management of Community Investment Funds (CIFs) in Cao Bang.
The “Developing Business with the Rural Poor (DBRP) in Cao Bang” project is designed to empower targeted communes and communities to propose their own socio-economic development plan in the light of “People know, People discuss, People do, People inspect and People benefit”. The government at all levels will provide support in procedures and finance, methods and experts for improving the local people’s and communes’ capacities. This creates the most fundamental element for sustainable development of rural economics and for poverty reduction as the project’s objectives.
Results Management System for IFAD supported country programmesIFAD Vietnam
International Fund For Agricultural Development (IFAD) Executive Board – Eightieth Session, Rome, 17-18 December 2003. Framework for a Results Management System for IFAD-supported country programmes.
Guidelines for Smallholder Access to Value Chains in VietnamIFAD Vietnam
Guidelines for smallholder access to high quality value chains in Vietnam. A handbook based on the Superchain experience (an IFAD/Malica project). Edited by Paule Moustier, CIRAD and Dao The Anh, CASRAD, Hanoi, 2009.
Vietnam Law on Tendering - Number 61 2005-QH11IFAD Vietnam
NATIONAL ASSEMBLY SOCIALIST REPUBLIC OF VIETNAM
No. 61-2005-QH11
LAW ON TENDERING
National Assembly of the Socialist Republic of Vietnam Legislature XI, Session 8 (from 18 October until 29 November 2005)
Project Procurement Guidelines
A. Background
1. Article 7, section 2(j) of the Agreement Establishing IFAD provides that the
Executive Board will adopt suitable regulations for procuring goods and services to
be financed from the resources of the Fund. These revised Procurement Guidelines
will apply to all projects and programmes financed from IFAD’s resources, and to
financing provided from supplementary funds unless otherwise agreed. They
replace the Procurement Guidelines adopted by the Executive Board in December 2004.
Procurement Guidelines
1. These Guidelines are intended to assist PI staff in handling procurement of Goods, Work and Consultancy Services in the context of IFAD Direct Supervision. It is a compendium of instructions, forms and checklists extracted from IFAD’s Guidelines for Supervision and Implementation Support.
It also draws from information distributed to IFAD staff during the Direct Supervision TrainingProgramme held at Casa San Bernardo during 2007/08.
Purpose and Use of the Handbook
This handbook further elaborates on the Procurement guidelines to be followed in the
procurement of goods, works and services under IFAD financed loans and grants and aims
at the followings:
• give advice and assistance to IFAD staff to help them carry out their own
procurement responsibility and to help IFAD Borrower/recipients/Recipients on
how to handle procurement actions using IFAD financing;
• provide detailed guidance for assessing the procurement capacity of the
borrower/recipient as would be required to implement the provisions made in
applying the Borrower/recipient’s procurement regulations, provided that they are
deemed to be consistent with IFAD’s guidelines as per the amendment of the
General Conditions in April 2009; and
• act as a principal reference in situations where it is deemed that
Borrower/recipient’s procurement systems are not acceptable or consistent with
IFAD Procurement guidelines.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
1. THE MINISTRY OF FINANCE SOCIALIST REPUBLIC OF VIET NAM
------- Independence - Freedom – Happiness
---------
No. 110/2009/TT-BTC Hanoi, May 29,2009
CIRCULAR
GUIDING FINANCIAL MANAGEMENT MECHANISMS APPLICABLE TO PROGRAMS
AND PROJECTS FINANCED BY THE INTERNATIONAL FUND FOR AGRICULTURAL
DEVELOPMENT (IFAD)
THE MINISTER OF FINANCE
Pursuant to the Government's Decree No. 131/2006/ND-CP of November 9, 2006, promulgating
the Regulation on management and use of official development assistance (ODA);
Pursuant to the Government's Decree No. 60/ 2003/ND-CP of June 6, 2003, detailing and
guiding the implementation of the State Budget Law;
Pursuant to the Government's Decree No. U8/2008/ND-CP of November 27, 2008, defining the
functions, tasks and powers of the Ministry of Finance;
Pursuant to the Finance Ministry's Circular No. 108/2007fTT-BTC of September 7, 2007,
guiding financial management mechanisms applicable to ODA-funded programs and projects;
The Ministry of Finance specifically guides financial management mechanisms applicable to
IFAD-financed programs and projects as follows:
Part I
GENERAL PROVISIONS
I. SCOPE AND OBJECTS OF APPLICATION
1. This Circular specifically guides disbursement, accounting, reporting and supervision
regulations applicable to programs and projects (below collectively referred to as projects)
financed with IFAD loans or IFAD aid and co-financed capital sources for IFAD projects which
are subject to IFAD's procedures.
Non-refundable aid projects financed by IFAD or authorized to IFAD for management which are
implemented independently (not co-financed under IFAD loan-financed projects) comply with
financial management regulations under the Finance Ministry's Circular No. 82/2007/TT-BTC of
July 12, 2007. guiding the State's financial management regulations applicable to foreign non-
refundable aid belonging to state budget revenues.
2. 2. Depending on management requirements and at the proposal of project-managing agencies,
the Ministry of Finance may issue separate guidance for a number of specific IFAD-financed
projects.
II. MANAGEMENT PRINCIPLES
1. IFAD-financed projects comply with financial management guidance applicable to ODA-
funded projects in the following documents:
- The Finance Ministry's Circular No. 82/2007/TT-BTC of July 12, 2007, guiding the State's
financial management regulations applicable to foreign non-refundable aid belonging to state
budget revenues;
- The Finance Ministry's Circular No. 108/2007/TT-BTC of September 7, 2007, guiding
financial management mechanisms applicable to ODA-funded programs and projects;
- The Finance Ministry's Circular No. 107/2008/TT-BTC of November 18, 2008. additionally
guiding a number of provisions on state budget management and administration;
- The Finance Minister's Decision No. 61/2006/QD-BTC of November 2, 2006. promulgating a
number of spending norms applicable to ODA-funded programs and projects;
- The Finance Minister's Decision No. 19/2007/QD-BTC of March 27, 2007. promulgating the
Regulation on the accounting of state budget mutual ceasing of the Government's foreign loans
and aid;
- Documents amending, supplementing or replacing the above documents, and ihh Circular.
2. Non-refundable aid projects financed by IFAD or co-financed by other donors comply with
spending norms under foreign aid agreements signed with donors. If those agreements do not
contain spending norms, those prescribed by the United Nations applicable to capital sources of
United Nations organizations in Vietnam will apply.
3. The Project Implementation Manual (PIM) and the Financial Management Manual developed
under projects, approved by IFAD and promulgated by the managing agency serve as a basis for
the management of and spending for projects.
III. SERVICE BANK AND PROJECT ACCOUNTS
1. Service bank means a commercial bank on the list of qualified commercial banks to be
authorized to conduct foreign transactions for projects, as selected by the Ministry of Finance in
coordination with the State Bank and donors.
2. Responsibilities of the service bank
3. The service bank shall, at the proposal of the account holder (the Ministry of Finance or the
project-managing agency as indicated in the financing agreement), open a project's relevant
accounts and conduct payment and capital withdrawal transactions under current regulations.
The service bank shall provide the Ministry of Finance and project-implementing agencies with
guidance and sufficient information for conducting domestic and overseas via-bank payment
transactions.
The service bank shall credit the sum of money withdrawn from the donor to the project's special
account within 2 working days after receiving the credit note and notify the Ministry of Finance
and the account holder of that sum of money.
Within 2 working days after transferring money under the account holder's order, the service
bank shall send to the account holder a document accounting such money as an expense,
enclosed with details of the sum of money in foreign currency, sum of money in Vietnam dong.
date of payment and payee, for state budget accounting.
The special account's balance is eligible for interest at the interest rate set by the service bank or
agreed between the service bank and the account holder. The service bank shall open an account
for separately monitoring the special account's interests.
The project's service bank is entitled to service charges at current rates set by the service bank.
The project may use arising interests to cover these service charges.
The service bank shall, on a monthly basis or upon request, send to the account holder a
statement on the special account, stating interests on the special account of projects; collected
service charges; interest-charge difference; and balances at the beginning and the end of a period.
Balances of accounts monitoring the special account's interests also generate interests.
3. Project accounts
a/ Account at the service bank
The Ministry of Finance or the project-managing agency that is the account holder of loan/aid
sources as indicated in the project's financing agreement shall open a special account/ aid
account (below collectively referred to as special account) at the service bank to meet the
project's payment requirements in compliance with current regulations and terms in the financing
agreement.
For a project with different financing sources, separate accounts must be opened for monitoring
each source.
Bank service charges shall be paid with the special account's interests and accounted in the
project's total expenses. Interests on accounts of financing projects constitute a state budget
revenue. For a project consisting of a state budget-funded component and a component funded
with ODA re-lent from the state budget which share the same special account (the time of re-
4. lending ODA from the state budget is the time of withdrawing capital from the special account),
this account's interest constitutes a state budget revenue. Upon project completion, unused
interests must be remitted into the state budget. If the interests are insufficient to cover bank
service charges, the project owner that has been allocated state budget funds shall work out a
plan to request allocation of domestic capital to cover bank service charges. The re-lending
project owner shall pay bank service charges with his/her/its own capital.
b/ Accounts at the State Treasury
- Capital source account for receiving ODA: Depending on project implementation requirements
and the written agreement with the donor, the project owner shall open the project's ODA
account at the State Treasury for receiving IFAD loans. IFAD aid and co-financed funds from
the project's special account and pay for the project after the State Treasury controls such
spending. As designed in the project, the subordinate (district- or commune-level) project
managing unit may open a deposit account at the district-level State Treasury for receiving
capital from the provincial-level project management unit to pay for project activities.
- Domestic capital payment account: The project owner shall open an account at the State
Treasury for receiving and paying domestic capital allocated from the state budget under current
regulations.
4. Exchange rate
IFAD capital in foreign currency shall be converted into Vietnam dong at an account-transfer
exchange rate set by the service bank at the time of transaction.
Part II
DISBURSEMENT MANAGEMENT, CAPITAL ACCOUNTING AND REPORTING
AND SUPERVISION REGULATIONS
I. REGULATIONS ON DISBURSEMENT
Capital withdrawal dossiers, procedures for spending control and payment of IFAD capital and
domestic capital for IFAD-financed projects comply with the Finance Ministry's Circular No.
108/2007/TT-BTC of September 7, 2007, guiding financial management mechanisms applicable
to ODA-funded programs and projects.
1. Forms of disbursement applicable to IFAD-financed projects
Depending on the terms of financing agreements and the IFAD's letters of disbursement, capital
withdrawal and payment with IFAD capital by the mode of project financing shall be conducted
in one or several of the following forms: capital withdrawal for direct payment; capital
withdrawal for payment in the form of special commitment; capital withdrawal for
refund/retroactive payment: payment via the special account; or other forms of capital
5. withdrawal as agreed with donors. Project owners shall follow donors' guidance on the
application of forms of capital withdrawal and related pre-printed forms.
The Ministry of Finance shall guide a number of popular forms of capital withdrawal specified in
Sections 2 and 3 below.
2. Special account/aid account procedures Special account procedures means a process whereby
the donor advances a borrower a sum of money into the special account opened at the service
bank for the borrower to pay the project's regular and lawful expenditures, reduce the number of
withdrawals of capital from the donor and accelerate payment for project activities.
The limit of the sum of money advanced by the donor into the project's special account depends
on the size, characteristics and spending demand of each project. The special account's limit shall
be indicated in the financing agreement and may be adjusted in the course of project
implementation on the basis of the project implementation progress and payment demands.
a/ First capital withdrawal into the special account
The first capital withdrawal into the special account shall be based on the special account's limit
(or ceiling level) indicated in the loan agreement/aid agreement. For projects funded with ODA
loans allocated from the state budget, the Ministry of Finance may fix an appropriate limit of
capital withdrawal on the basis of considering the project's spending plan for the subsequent 6
months and the expense for paying interests to the foreign partner. The service bank shall pay
arising interests.
To withdraw capital, the project management unit shall send to the Ministry of Finance (the
Department for Foreign Debt and External Finance Management) a written request for capital
withdrawal, capital withdrawal application and statements enclosed with the donor's forms, and
the project's spending plan for the subsequent 6 months.
Within 5 working days after receiving a complete and valid dossier, the Ministry of Finance (the
Department for Foreign Debt and External Finance Management) shall, based on signed treaties,
consider and sign the capital withdrawal application and send it to the donor.
b/ Transfer of money from the special account to the contractor/supplier
Transfer of money from the special account is the form of payment at the proposal of the project
management, whereby the Ministry of Finance shall transfer money from the special account
opened at the service bank to pay for goods/services to the contractor/supplier.
When wishing to withdraw money for transfer from the special account, the project management
unit shall send to the Ministry of Finance (the Department for Foreign Debt and External Finance
Management) the following:
- A written request for capital withdrawal;
6. The contractor's invoice/payment request:
- A written request for payment enclosed with the original certification of the spending control
agency;
- Other documents supplementing and clarifying the above papers.
Within 5 working days after receiving a complete and valid dossier, the Ministry of Finance (the
Department for Foreign Debt and
External Finance Management) shall consider and carry out procedures for transferring money
directly into the contractor's/supplier's account.
c/ Withdrawal of capital from the special account to the capital source account at the State
Treasury
To withdraw capital from the special account to the capital source account at the State Treasury,
the project management unit shall send to the Ministry of Finance (the Department for Foreign
Debt and External Finance Management) the following:
- Spending estimates for the sum of money requested to be withdrawn;
- Statement of the capital source account from the time of previous capital withdrawal to this
time of application for capital transfer;
- Other documents, when necessary.
If money on the special account is sufficient, within 3 working days the Ministry of Finance shall
consider and carry out procedures for transferring money to the project management unit.
Spending from the capital source account shall be made after it is controlled under current
regulations of the State Treasury at which the project management unit opens its account.
In case projects have accounts opened for localities (districts or communes), provincial-level
project management units shall, pursuant to current regulations, carry out procedures for making
advances to districts or commur.es.
d/ Additional allocation to the special account
To withdraw capital for additional allocation to the special account, the project management unit
shall send to the Ministry of Finance (the Department for Foreign Debt and External Finance
Management) the following:
- A written request for the withdrawal of capital for additional allocation to the special account,
capital withdrawal application, statements made according to a set form, and documents required
by the donor;
7. - Dossiers and documents to be sent to the Ministry of Finance: Apart from documents required
by the donor, for expenditures monitored in the form of expenditure statements, the project
management unit shall make a statement of each expenditure from the capital source account,
with the original certification of the State Treasury where transactions are made and send it to the
Ministry of Finance. Such statement must indicate the date of payment, sum of money, payment
details, payee, number and date of making the expenditure document;
- For expenditures for which the donor requires documents: The project management unit shall
send a written request for investment capital payment with the original certification of the State
Treasury. Each of such certified requests for investment capital payment may be used only once;
- The table for the special account crosscheck, made according to the form provided by the donor
and signed by the project management unit;
- The special account statement, supplied by the service bank (for accounts whose owners are
units);
- The report on IFAD capital disbursement, made according to a form provided in Appendix 4 to
the Finance Ministry's Circular No 108/ 2007/TT-BTC of September 7, 2007, guiding financial
management mechanisms applicable to ODA-funded programs and projects, and detailed
according to the state budget index;
Within 5 working days after receiving a complete and valid dossier, the Ministry of Finance (the
Department for Foreign Debt and External Finance Management) shall consider and sign the
capital withdrawal application and send it to the donor for consideration and. in case the donor
accepts the application, additionally transfer money into the special account.
3. Capital withdrawal process applicable to credit projects or projects' credit components
The withdrawal of capital for credit projects or projects' credit components is made as follows:
Based on the requirement to further provide loans and spend on project activities, the units that
implement credit projects or projects' credit components shall prepare dossiers for withdrawing
capital from donors in order to further provide loans or spend on project activities in compliance
with loan agreements or project agreements (if any) and current regulations on credit, bidding,
procurement.
A dossier of application for capital withdrawal to be sent to the Ministry of Finance comprises:
- A written request for capital withdrawal, made by the credit component-implementing unit or
project management unit (if the same special account is used);
-The capital withdrawal application, enclosed with statements of re-lent amounts as prescribed
by the donor (the credit component-implementing unit shall sign for certification and take
responsibility for the lawfulness, truthfulness and accuracy of the statements);
8. - Documents proving the lawfulness and legality of expenditures for project activities as required
by the donor.
Within 5 working days after receiving a complete and valid dossier, the Ministry of Finance (the
Department for Foreign Debt and External Finance Management) shall consider and sign the
capital withdrawal application and send it to the donor.
II. REGULATIONS ON STATE BUDGET ACCOUNTING OF IFAD CAPITAL
1. The specific process of accounting state budget capital complies with Circular No. 107/
2008/TT-BTC of November 18. 2008. additionally guiding a number of provisions on state
budget management and administration, and the Finance Minister's Decision No. 19/2007/ QD-
BTC of March 27, 2007. promulgating the Regulation on the accounting of state budget mutual
ceasing of the Government's foreign loans and aid.
2. Process of accounting capital disbursed via the special account
a/ Accounting upon withdrawal of money to the special account: For IFAD capital amounts
disbursed to the special account, the Ministry of Finance shall, based on the notice of money
transferred to the service bank's account, make an order of recording budget revenues and send it
to the State Treasury for accounting into the state budget non-refundable aid as revenues or loans
under regulations for debt monitoring on payable accounts.
b/ Accounting of expenditures from the special account:
- For expenditures from the special account to be paid to the contractor/supplier, the Ministry of
Finance shall make an order of paying additional expenditures from the local budget in order to
record as targeted allowances to the provincial-level Finance Service to implement projects;
- For capital amounts paid at the project's capital source account: After transferring money to the
capital source account, the Ministry of Finance shall monitor expenditures on the budget's
advance account. Based on the project owner's report on ODA disbursement under Section 2.d,
Part II of the Regulation on disbursement, the Ministry of Finance shall make an order of paying
additional expenses from the local budget in order to record as targeted allowances to the
provincial-level Finance Service; and based on documents received from the Ministry of
Finance, the provincial-level Finance Service shall carry out procedures for recording as local
budget revenues and as capital allocation expenses for project-implementing units under current
regulations.
III. REPORTING AND SUPERVISION REGULATIONS
1. Monthly, quarterly and annually, the subordinate project management unit shall make a report
on the use of IFAD capital on the capital source account, co-financed capital and domestic
capital, and send it to the State Treasury where transactions are made for carrying out
crosschecking and certification procedures and concurrently to the provincial-level project
management unit. The provincial-level project management unit shall make the whole project's
9. report and send it to the State Treasury where transactions are made for crosschecking and
further sending it to the managing agency, the provincial-level Finance Service and Planning and
Investment Service as a basis for monitoring and supervision.
2. Finance agencies at all levels and project managing agencies may. independently or in
coordination with concerned agencies, conduct regular or irregular examination and inspection of
IFAD-financed projects with regard to financial management contents in accordance with this
Circular.
Part III
ORGANIZATION OF IMPLEMENTATION
This Circular takes effect 45 days from the date of its signing and replaces the Finance Ministry's
Circular No. 83/2000/TT-BTC of August 14. 2000, guiding the process of transferring money
and accounting loans for IFAD-financed projects.
In case of supplementation, amendment or replacement of legal documents referred to in this
Circular, the supplemented, amended or replaced documents will apply. Legal documents
guiding financial management to meet specific requirements of projects or groups of projects,
promulgated by the Ministry of Finance before the effective date of this Circular, remain
effective.
Any problems arising in the course of implementation should be promptly reported to the
Ministry of Finance for guidance and coordinated settlement.
FOR THE MINISTER OF FINANCE
VICE MINISTER
Tran Xuan Ha