Headlines 26/12/2021 19:20 CH

Using foreign loans for study tours is prohibited

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On December 16, 2021, the Government promulgates the Decree No. 114/2021/ND-CP regarding management and use of Official Development Assistance (ODA) and soft loans provided by foreign donors.

The Decree prescribes several basic principles of state management of ODA grants and soft loans as follows:

ODA and soft or concessional loans are used for development investment, not regular spending, purposes.

Foreign loans are not used to pay for the following activities:

- Training and coaching for competence improvement purposes, except when such training and coaching activities are needed for transfer of technology, equipment and machinery operation skills; (This is a new regulation)

- Field trips, study tours or visits; (This is a new regulation)

- Payment of taxes, fees and loan interest;

- Purchase of motor vehicles, except those used for special purposes subject to the competent authority's decisions;

- Supplies and equipment in reserve for operation of a project after it is completed, except for supplies and equipment in special reserve decided by competent authorities in accordance with law;

- Compensation, support and resettlement costs;

- Operating costs of the project management board;

Decree No. 114/2021/ND-CP is entering into force as of December 16, 2021 as a replacement for the Decree No. 56/2020/ND-CP dated May 25, 2020.

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