Chương I Nghị định 93/2018/NĐ-CP : Những quy định chung

Chapter I

GENERAL PROVISIONS

Article 1. Scope and regulated entities

1. Scope:

This Decree deals with provincial-government debt management, including debt management rules, types of borrowing and eligibility requirements to be satisfied by provincial governments to get loans, formulation of 5-year borrowing and repayment plan, 03-year debt management program, annual borrowing and repayment plan, getting loans and repayment, accounting, auditing, reporting and debt-related information publishing.

2. Regulated entities:

This Decree applies to People’s Councils and People’s Committees of provinces and central-affiliated cities, the Ministry of Finance and other regulatory authorities, organizations and individuals involved in borrowing, management and use of borrowed funds, and debt repayment by provincial governments.

Article 2. Rules for managing provincial-government debts

1. A provincial government is allowed to get loans for making up its budget deficit and paying outstanding principal amounts.

2. When getting loans, a provincial government must comply with the Law on state budget, the Law on public debt management and the followings:

a) Its 5-year borrowing plan, 03-year debt management program and annual borrowing plan shall not exceed the ceilings announced by competent authorities (if any) and outstanding balances on loans prescribed in Clause 6 Article 7 of the Law on state budget and Article 4 of the Government’s Decree No. 163/2016/ND-CP dated December 21, 2016, and relevant Government’s Decrees on specific financial - budget policies applicable to some provincial governments as set forth in Article 74 of the Law on state budget;

b) Loan amounts received in a year shall not exceed the annual loan limit decided by the National Assembly and approved by the Prime Minister for each provincial government;

c) Loans granted for making up its budget deficit shall be only used for implementing investment and development programs and/or projects included in the medium-term public investment plan approved by the Provincial People’s Council;

d) Loans are granted and recorded in VND, except amounts on-lent from the Government’s ODA loans or foreign concessional loans as prescribed in Point b Clause 1 Article 3 herein;

dd) A provincial government is not allowed to directly ask for a foreign loan.

2. A provincial government is not allowed to act as a guarantor for any organizations or individuals for their domestic or foreign loans or bond issues.

3. A provincial government must balance and allocate its budget or other legal sources of funding to pay debts in full and on schedule as prescribed in Article 11 and Article 12 herein.

4. Provincial-government debts must be calculated and recorded in an accurate, adequate, open and transparent manner; responsibility of relevant authorities and individuals must be determined in the management of provincial-government debts.

Article 3. Types of borrowing and eligibility requirements to be satisfied by a provincial government

1. Types of borrowing:

a) Issue municipal bonds in domestic market under regulations herein;

b) Borrow funds on-lent from the Government’s ODA loans or foreign concessional loans under regulations in Chapter V of the Law on public debt management, the Government’s Decree on on-lending of ODA loans and foreign concessional loans, and regulations herein;

c) Get loans directly from domestic financial institutions or credit institutions; borrow money from state funds; get loans from financial reserve fund under regulations herein.

2. When applying for loans, provincial governments must satisfy eligibility requirements as prescribed in Article 52 of the Law on public debt management and the Government’s Decree No. 163/2016/ND-CP.