Chương II Nghị định 15/2015/NĐ-CP: Nguồn vốn thực hiện dự án

Chapter II

FINANCING FOR THE PROJECT EXECUTION

Article 10. Equity capital and mobilized capital

1. Investors shall be responsible for contributing the equity capital and mobilize other capital to execute the project as agreed upon in the project contract.

2. The equity capital of the investor shall account for at least 15% of the total capital. With regard to the project funded by total investment of over VND 1,500 billion, the percent of equity capital is calculated according to the partial progression method as follows:

a) For the investment capital that amounts to VND 1,500 billion, the equity capital shall account format least 15% of such financing portion;

b) For the investment capital that exceeds VND 1,500 billion, the equity capital shall account for at least 10% of such financing portion.

3. The State funding for the project prescribed in Article 11 of this Decree shall not be included in the total investment for the identification of the equity capital percentage.

4. Other projects carried out by the investors to recover the investment in a BT project shall meet the requirements for the equity capital (if any) according to the regulation.

Article 11. State funding for the project

1. The State funding for the project shall be derived from the State budget, Government bonds, municipal bonds, the ODA and the concessional loans from foreign sponsors.

2. The State funding for the project is used for:

a) Providing financial support for commercial projects, or those intended for fee collection, but from which receipts are not sufficient for the recovery of the invested capital and profits;

b) Paying the investor providing services according to the BTL contract, BLT contract and other similar contracts;

c) Supporting the construction of auxiliary facilities, paying the indemnity, and carrying out site clearance and relocation.

3. The State funding prescribed in Point a, b Clause 2 of this Article is only used for executing the project proposed by Ministries, provincial People’s Committees and regulatory bodies or the projects financed by the ODA and the concessional loans from foreign sponsors.

Article 12. Determination of the State funding for the project

1. The amount of State funding is estimated on the basis of project financial plan; policies on the use of State funding prescribed in Clause 2 Article 17 of this Decree and the capability of mobilizing and balancing the State funding for the project.

2. The competent persons prescribed in Article 27 of this Decree shall determine the amount of State funding for the project when approving the feasibility study report or project proposal (with regard to group C projects).

Article 13. Planning for State funding for the project

1. Ministries, regulatory bodies and provincial People’s Committees shall draw up and make an aggregate planning for the State funding for the projects that are announced in the 5-year public investment program for industry sectors, local areas according to the regulation in Article 18 of this Decree.

2. Based on the approved 5-year public investment plans, feasibility study reports or project proposals (with regard to group C projects), the Ministries, regulatory bodies and provincial People’s Committees shall draw up and make an aggregate planning for the State funding for the local projects defined in 5-year public investment program.

3. The Ministry of Planning and Investment shall preside over, cooperate with the Ministry of Finance in carrying out the projects defined in the national public investment program.

Article 14. Disbursement of State funding for the project

1. Disbursement of the State funding for the project:

a) State funding for the project prescribed in Point a Clause 2 Article 11 of this Article shall be disbursed when the project workload and value is completed under the terms and conditions of the project contracts;

b) Based on the completed workload or construction value tested and accepted by the project management enterprises, regulatory agencies shall disburse the state funding and make payments to the investors and project management enterprises according to the amount, value, progress and conditions agreed in the project contracts.

2. The disbursement of budget used for paying to the investor in the BTL contract and BLT contract:

a) The funding for payment to the investor for the service according to the BTL contract, BLT contract and other similar contracts prescribed in Point b Clause 2 Article 11 of this Article shall be disbursed from the time the service is provided as agreed upon in the project contracts;

b) The payment prescribed in Point a of this Clause shall be carried out periodically according to the amount and quality of service specified in the project contracts.

3. Using the land fund as a payment to the BT project investors that must be approved by a competent authority according to the law on land.

4. Disbursement of state funding for the auxiliary works, indemnity, site clearance, resettlement:

Funding for the auxiliary works, the indemnity, site clearance and resettlement prescribed in Point c Clause 2 Article 11 of this Decree is used according to the regulation on public investment project.

5. The Ministry of Finance shall provide guidance on the implementation of this Article.