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THE
MINISTRY OF FINANCE
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SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No:
96/2000/QD-BTC
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Hanoi,
June 12, 2000
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DECISION
PROMULGATING THE DETAILED GUIDANCE ON THE PROCESS AND
PROCEDURES FOR ODA CAPITAL WITHDRAWAL
THE MINISTER OF FINANCE
Pursuant to:
The Government’s Decree
No.178/CP of October 28, 1994 defining the functions, tasks and organizational
apparatus of the Finance Ministry;
The Government’s Decree
No.87/CP of August 5, 1997, promulgating the Regulation on the Management and
Use of the Official Development Assistance (ODA) source;
The Government’s Decree
No.145/1999/ND-CP of September 20, 1999 on reorganization of the General
Department for Development Investment under the Finance Ministry;
Joint Circular No.81/1998/TTLT/BTC-NHNN of June 17, 1998 of the Finance
Ministry and the Vietnam State Bank, guiding the process, procedures for and
management of capital withdrawal with regard to the official development
assistance (ODA) capital source,
DECIDES:
Article 1.- To
promulgate together with this Decision the detailed guidance on the process and
procedures for ODA capital withdrawal.
Article 2.- This
Decision takes effect 15 days after its signing and replaces Decision
No.1860a/1998/QD-BTC of December 16, 1998 of the Finance Minister.
The general director of the State Treasury, the
director of the Investment Department, the head of the External Finance
Department, the director of the Administrative and Public-Service Finance
Department and the director of the Ministry’s
Office shall have to organize the implementation of this Decision.
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FOR THE FINANCE MINISTER
VICE MINISTER
Le Thi Bang Tam
DETAILED GUIDANCE
ON THE PROCESS, PROCEDURE FOR AND MANAGEMENT OF CAPITAL
WITHDRAWAL WITH REGARD TO THE OFFICIAL DEVELOPMENT ASSISTANCE (ODA) CAPITAL
SOURCE
(promulgated together with Decision No.96/2000/QD-BTC of June 12, 2000 of
the Finance Minister)
I. GENERAL PROVISIONS
1. The official development assistance (ODA)
capital source for investment in projects, programs (hereinafter referred
collectively to as ODA projects) constitute a source of the State budget
revenue, which must be accounted into the budget and managed according to the
provisions of the State Budget Law and documents guiding the Law.
2. The Finance Ministry shall have to
financially manage the capital withdrawal for payment to projects and programs,
account the State budget revenues and expenditures regarding ODA capital
sources, guide and inspect the implementation of financial management regimes,
make final settlement of projects, guide and inspect units in carrying out the
hand over of assets, supplies and capital upon the project completion.
3. Agencies that control the expenditures shall
be:
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+ The sub-lending agencies (which are the
Development Assistance Fund or agencies authorized by the Finance Ministry in
special cases) to control the spending activities of fully sublent projects.
4. The investors shall be answerable before law
for the implementation of ODA projects in strict accordance with the
commitments prescribed in the international agreements, strictly abide by the
State�s regulations on financial management and
apply the accountancy accounting and auditing regimes according to the current
regulations of the State.
5. This Guidance shall prescribe only the
process, procedures for and the management of ODA capital withdrawal. For
domestic reciprocal capital, the withdrawal and settlement thereof shall comply
with the current regulations on investment and construction management and on
the State budget expenditure management, in conformity with the project
implementation tempo and the foreign capital withdrawal tempo.
6. For particular projects and programs,
depending on the managerial requirements, the Finance Ministry may promulgate
specific guidance.
II. ELABORATION OF PLANS FOR
ODA PROJECTS
1. Project classification for plan elaboration
and expenditure management:
a/ Classification according to spending nature:
- Capital construction investment projects
include projects with capital construction spending contents defined in Part
II, Section I, Circular No.135/1999/TT-BTC of November 19, 1999 of the Finance
Ministry or legal documents amending, supplementing or replacing this Circular.
- Investment projects with administrative and
public-service spending contents include projects on investment in the
development of economic and/or social fields which have no capital construction
spending contents.
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- Credit programs/projects include credit
programs/projects or proportion of a project which use ODA capital to sublend
to banks and/or credit institutions for further lending to projects or end
users in order to achieve the set targets.
b/ Classification according to capital use
machanism:
- Allocated projects include projects which use
ODA capital according to the mechanism of State budget allocation.
- Sub-lent projects include projects which use
ODA capital according to the mechanism of re-borrowing from the State budget.
- Combined projects with
allocation-cum-reborrowing include projects which use ODA capital partly
allocated by the State budget and partly re-borrowed from the budget.
2. Elaboration of investment capital plans/ or
budget estimates of ODA projects:
a/ For allocated projects:
Annually, at the time of elaboration,
submission, consideration and approval of the State budget estimates according
to the current regulations, the project management boards shall base themselves
on the project implementation tempo to elaborate the investment capital plans
of the projects (for capital construction investment projects) or the budget
estimates (for administrative and public-service projects), and send them to
their managing ministries (if the projects are managed by the central
government) or the People’s
Committees of the provinces or centrally-run cities (if the projects are
locally managed) for their inclusion into the general budget plans of the
ministries, provinces, which shall be sent to the Finance Ministry and the
Ministry of Planning and Investment for submission to the Government and the
National Assembly for ratification.
Such a plan must clearly indicate the projects’ spending contents and such
capital sources as loan capital, aid, domestic reciprocal capital allocated by
the central budget or local budgets, contributed capital of beneficiaries,
credit capital (if any).
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b/ For sub-lent projects:
The projects’
investment capital plans should be elaborated in strict accordance with the
current regulations, clearly stating the ODA capital sources and the reciprocal
capital sources. These plans must be approved by competent authorities. The
investors shall have to self-procure enough reciprocal capital according to the
project implementation tempo and report to the Finance Ministry and the
Ministry of Planning and Investment the balance of reciprocal capital.
c/ For combined projects, depending on the
nature of the allocated or sub-lent proportion, the process of elaboration of
investment capital plans or budget estimates shall apply as provided for in
Item a or b above.
3. Plans for ODA capital withdrawal:
Annual plans: In August every year,
simultaneously with the process of elaborating the investment capital
plans/budget estimates of projects or the ODA credit capital using plans, the
project management boards shall elaborate the following year’s plans for ODA capital
withdrawal to be sent to their managing ministries and the Finance Ministry
(the External Finance Department) for augmentation into a general plan for ODA
capital withdrawal, and monitor the withdrawal and use of the ODA capital of
the projects in the plan year. Such a plan must clearly define each ODA capital
source (if they are projects of aid combined with loan or of co-financing) and
shall be split up to every quarter.
III. OPENING ACCOUNTS AND
SERVICE BANKS
In order to withdraw capital for settlement, the
project management boards shall open appropriate transaction accounts at
service commercial banks according to the current regulations. For projects
which apply form of payment via Special Account/Advance Account, the project
management boards should additionally open the Special Accounts/Advance
Accounts bearing the projects’
names (for projects financed by the and/or the ADB) or the Finance Ministry’s name (for other projects) at
the service commercial banks in order to receive advance capital of donors.
The service banks shall have to notify the
situation on foreign capital withdrawal and/or the situation on the payment via
the Special Accounts/Advance Accounts of projects to the Finance Ministry, the State
Bank and the investors.
In the course of project implementation, the
service banks shall enjoy commission according to the current regulations of
the State Bank on collection of banking service charges.
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- The expenditure control shall apply to the
expenditures of all capital construction as well as administrative and
public-service projects.
- The dossiers and procedures for expenditure
control of the capital construction projects shall comply with the provisions
in Circular 135/1999/TT-BTC of November 19, 1999 of the Finance Ministry,
guiding the management and settlement of investment capital as well as
public-service capital of investment and construction nature, which belong to
the State budget capital sources, or legal documents amending, supplementing or
replacing this Circular.
- The dossiers and procedures for expenditure
control of administrative and public-service projects shall comply with the
provisions in Circular No.40/1998/TT-BTC of March 31, 1998 of the Finance
Ministry, guiding the regime of management, allocation and settlement of State
budget expenditures through the State Treasury, or legal documents amending,
supplementing or replacing this Circular.
- The control of dossiers requesting the payment
with the foreign capital sources of ODA projects shall not be restricted by the
projects’ investment
capital plans or budget estimates (or the funding limits notices).
- After examining and controlling the spending
dossiers and vouchers of units, the expenditure control bodies shall write the
certification in the price tickets for settlement of valid value eligible for
settlement according to the proportion between foreign capital and reciprocal
capital, which has been prescribed in the international agreement or the
project documents. The price tickets with certification by the expenditure
control bodies shall serve as basis for carrying out the procedures to withdraw
foreign capital.
V. FORMS OF CAPITAL WITHDRAWAL
Depending on the provisions of the international
agreements, the capital withdrawal and the payment with ODA capital sources
shall be effected in one or several of the following common forms: direct
payment, special account, letter of commitment, capital reimbursement and money
transfer.
Initial dossiers serving as basis for the
management of ODA capital withdrawal:
The project management boards should send the
following documents to the Finance Ministry (the External Finance Department):
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- The international agreement on ODA, signed
between Vietnam and the donor(s) and project documents relating to the projects;
- The annual investment capital plan/budget
estimate allocated by the competent authority;
- The sub-lending agreement signed between the
investor and the agency authorized to sub-lend (if they are sub-lent projects);
- The competent authority’s
decision to recognize the bid-winning unit (or the decision to appoint bidder);
- The contract (for construction and installation,
procurement, consultancy, etc.) signed between the investor and the contractor
or the expenditure estimate approved by the competent authority (if the
spending activities do not follow the contractual form)
- The competent authority’s
decision to approve the contract.
- Where the contract needs the prior-comments of
the donor(s), there should be " no objection" from the donor(s).
- The performance guarantee of the contractor’s bank;
- The advance guarantee (if it is the advance
payment).
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1. Capital withdrawal process according to
direct payment procedures (or form of money transfer):
Direct payment is the form of payment made at
the request of the borrower, thereby the donor(s) shall transfer the payment
money directly to the contractor/ supplier. This form often applies to cases of
payment according to implementation tempo for big construction and installation
contracts, consultancy contracts or payment to contracts on import of goods in
small volumes which need not to open L/C.
For projects financed by JBIC, this form is
called the money transfer capital withdrawal form and only apply to units that
withdraw capital in VND.
1.1. To withdraw capital for direct payment by
installment, the project management boards shall send the following documents
to the Finance Ministry (the External Finance Department):
- The application for capital withdrawal and the
copies of lists attached to set forms and the official dispatch requesting the
capital withdrawal;
- Payment bill/ request of the contractor;
- The payment price ticket already certified by the
expenditure control body. In case of advance payment, there must be the advance
payment price ticket certified by the expenditure control body.
- For special cases, the Finance Ministry may
request the project management boards to supply documents for additional
explanation.
1.2. Within 5 working days after the receipt of
complete and valid dossiers, the Finance Ministry (the External Finance
Department) shall consider and sign the application for capital withdrawal and
send it to the donor(s).
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The donor(s) shall consider the capital
withdrawal application, and, if accepting it, transfer the money directly into
the contractor’s account.
For JBIC’s projects, the
transfer of payment money into the contractors’
bank accounts shall be effected via service banks.
2. The process of capital withdrawal according
to procedures of letter of commitment or L/C payment without letter of
commitment:
2.1. The commitment letter procedure is the form
whereby the donor, at the request of the borrower, shall issue a letter of
commitment to pay to the commercial bank the sum of money already paid or to be
paid by letter of credit (L/C).
This form often applies to cases of settlement
of import goods with L/C and the settlement of the foreign currency portions in
contracts of JBIC projects.
The project management boards shall send to the
Finance Ministry (the External Finance Department) the following documents:
The official dispatch proposing the Finance
Ministry to permit the L/C opening and the request for the issue of the letter
of commitment enclosed with the capital withdrawal application and copies of
the lists made according to set forms (for JBIC’s
projects, the capital withdrawal application and copies of lists are not
required).
Within 5 working days after the receipt of
complete and valid dossiers, basing itself on the written proposal and the
contractual provisions, the Finance Ministry (the External Finance Department)
shall consider them and send the written approval to the project management
board and the service bank. Basing itself on the written approval of the
Finance Ministry, the service bank shall, within 2 working days after the
receipt of the Finance Ministry’s
approval, carry out the procedures to request the foreign service bank to open
L/C and the donor to issue the letter of commitment (in case of JBIC projects),
or sign together with the project management board the capital withdrawal
application and send it to the donor(s) (in cases of the projects of the World
Bank and/or the Asian Development Bank).
The donor(s) shall consider the letter of
request or capital withdrawal application, and, if accepting it, issue the
letter of commitment.
2.2. L/C payment without requiring the letter of
commitment (applicable to a number of bilateral aid projects):
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- The official dispatch requesting the Finance
Ministry to permit the opening of L/C.
Within 5 working days after the receipt of
complete and valid dossiers, the Finance Ministry shall send its written
approval of the L/C opening to the project management board and the service
bank.
3. The process of capital withdrawal according
to the procedures for capital reimbursement or retrospective payment:
The capital reimbursement payment is a form
under which the donor shall finance the project’s
expenditures which have arisen and been already settled with the sources of
budget capital or own capital by the borrower. This form often applies to cases
of small procurement, or settlement of a number of capital construction
components.
The retrospective payment is a form under which
the donor shall finance the project’s
expenditures which have arisen and been already settled by the borrower with
the sources of budget capital or own capital before the borrowing agreement
comes into force. This form shall only apply when it is agreed upon by the
donor from the time of project preparation and included into the borrowing
agreement.
In order to withdraw capital in form of capital
reimbursement (or retrospective payment), the project management board shall
send the following documents to the Finance Ministry (the External Finance
Department):
The documents submitted for each time of capital
withdrawal:
- The official dispatch requesting the capital
withdrawal and the application for capital withdrawal as well as copies of
lists enclosed with set forms. The capital withdrawal application must state
the name and account number of the beneficiary unit which has made the advance
payment for such capital reimbursement;
- The payment price bill with certification by
the expenditure control body according to the current regulations and other
vouchers evidencing the amount of money and the source of capital already paid
to the contractor;
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Within 5 working days after the receipt of
complete and valid dossiers, the Finance Ministry (the External Finance
Department) shall consider and sign the capital withdrawal application to be
sent to the donor.
For projects financed by the WB and/or the ADB,
within 5 working days after the receipt of complete and valid dossiers, the
Finance Ministry (the External Finance Department) shall send its written
comments to the project management board and the service bank. Within 2 working
days after the receipt of the written comments of the Finance Ministry, the
service bank shall together with the project management board sign the capital
withdrawal application to be sent to the donor.
The donor shall consider it and, if accepting
it, transfer the money to reimburse the capital amount already paid.
For the withdrawn amounts to reimburse the
amounts already paid by the State budget (or by capital sources originating
from the State budget), the withdrawn amounts of money must be paid into the
State budget where the capital has been advanced.
For the withdrawn amounts to reimburse the
expenses already paid by the project owners with their own capital (or credit
capital, or other mobilized capital having not originated from budget), the
project owners are entitled to use the withdrawn capital amounts according to
the current regulations on financial management.
4. Process of capital withdrawal according to
the procedure of Special Account/Advance Account:
4.1. The Special Account/Advance Account is the
form under which the donor advances a sum of money to the borrowing party into
the Special Account/Advance Account in order to facilitate the latter in small
payments, reduce the number of times applying for capital withdrawal from the
donor and speed up the payment for the project’s
activities. This form often applies to cases of payment of construction and
installation bills according to tempo, the procurement of small equipment, the
expenses for activities of the project management board, etc.
The limit of the Special Account/Advance Account
depends on the project’s
spending needs, determined in the capital borrowing agreement or letter of
capital disbursement of the project.
a/ The first withdrawal of capital into the
Special Account/Advance Account:
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The official request for capital withdrawal, the
application for capital withdrawal and copies of the lists enclosed with set
forms.
Within 5 working days after the receipt of
complete and valid dossiers, basing itself on the signed international
agreement, the Finance Ministry (the External Finance Department) shall
consider and sign the capital withdrawal application before sending it to the
donor.
For WB- and ADB-financed projects, within 5
working days after receiving complete and valid dossiers, the Finance Ministry
(the External Finance Department) shall send its written comments to the
project management board and the service bank. Within 2 working days after the
receipt of the written comments of the Finance Ministry, the service bank shall
together with the project management board sign the capital withdrawal
application and send it to the donor.
The donor shall consider and accept the request
before transferring money into the Special Account/ Advance Account.
b/ The process of making expenditures from the
Special Account/Advance Account:
- The process of afterward inspection by the
expenditure control body:
Upon a spending request to make payment for the
contractor/supplier/consultant, after making the pre-acceptance test,
examination of work volume and vouchers, agreeing to make payment in strict
accordance with the current regulations and calculating the sum to be paid with
ODA capital according to the rate prescribed in the project document, the
project management board shall request the service bank to deduct money from
the Special Account/Advance Account for payment to the beneficiary.
Within 5 working days after the withdrawal of
capital from the Special Account/Advance Account to make payments, the project
management board shall forward the prescribed payment dossiers and vouchers to
the expenditure control body so that the latter effects the control of
expenditures according to the current regulations. Within 5 working days,
basing itself on the dossier and voucher inspection results, the expenditure
control body makes certification of the completed volume eligible for the
payment on the price bill or the list (together with the payment of the
reciprocal capital portion, if any).
In case of making lump-sum or final payments to
contracts, the project management board shall send the dossiers and vouchers
according to current regulations to the expenditure control body proposing the
prior inspection and certification of the dossiers’
eligibility for payment. Within 5 working days, the expenditure control body
shall examine the dossiers and vouchers, certify the completed volume eligible
for payment (together with the payment of the reciprocal capital portion, if
any). Basing itself on the certification by the expenditure control body, the
project management board shall carry out procedures with the service bank to
make payments from the Special Account/Advance Account to the contractor.
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- The process of prior inspection by the
expenditure control body:
For projects managed by different levels
(central and local) or characterized by their complexity, the form of prior
inspection by the expenditure control body shall apply to the expenditures from
the Special Account/ Advance Account as follows:
According to this process, the service bank
shall disburse the capital from the Special Account/Advance Account only when
the payment requests are enclosed with the price bills with certification of
eligibility for payment by the expenditure control body.
- Upon a request to make payment to the
contractor/supplier/consultant, etc. , the project management board
(central/local) shall send the payment dossiers and vouchers according to the
current regulations to the expenditure control body. Within 5 working days, the
expenditure control body shall inspect the dossiers, certify the foreign
capital portion’s eligibility
for payment (and settle the reciprocal capital portion, if any).
For projects managed by different levels:
- In order to withdraw capital from the Special
Account/Advance Account, the local project management board shall forward the
payment request with certification by the expenditure control body to the
central project management board.
- Basing itself on the request of the local
project management board, the central project management board shall send the
payment request enclosed with the certification by the expenditure control body
to the service bank for disbursement of capital from the Special
Account/Advance Account to make payments to the beneficiary.
- Where projects have advance accounts at the
local level (grade 2- Advance Account), the local project management board
shall forward the payment request enclosed with certification by the
expenditure control body to the service bank for disbursement of capital from
the grade-2 Advance Account to make payment to the beneficiary.
For projects managed by one level:
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c/ The process of withdrawal of capital for
addition to the Special Account/Advance Account
In order to withdraw capital for addition to the
Special Account/Advance Account, the project management board should send the
following documents to the Finance Ministry (the External Finance Department):
- The official request for withdrawal of capital
for addition to the Special Account/Advance Account, the capital withdrawal
application and copies of lists enclosed with set forms;
- The copy of the list of expenditures
elaborated by the project management board, which clearly indicates the amounts
spent from the Special Account/Advance Account, the serial number/date of the
written certification by the expenditure control body of the spent amounts, together
with the copy of the payment price bill certified by the expenditure control
body.
- The copy of the list of special accounts of
the service bank;
- The debt acknowledgement contract signed between
the investor and the body authorized by the Finance Ministry to manage the
re-borrowed amounts with regard to the amounts of money already withdrawn from
the special account (in case of sub-lent projects).
Within 5 working days after the receipt of
complete and valid dossiers, the Finance Ministry (the External Finance
Department) shall consider and sign the capital withdrawal application and send
it to the donor.
For projects financed by the WB and/or the ADB,
within 5 working days, the Finance Ministry (the External Finance Department)
shall send its comments to the project management board and the service bank.
Within 2 working days after the receipt of written comments of the Finance
Ministry, the service bank shall together with the project management board
send them to the donor.
The donor shall consider and, if accepting the
request, transfer the money for addition to the Special Account/Advance Account.
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a/ Opening the Special Account and the
first-time capital withdrawal:
- Under the authorization of the Finance
Ministry (the External Finance Department), the Vietnam Foreign Trade Bank
shall open the Special Account in Yen and the Account of Interests on the
Special Account at the Tokyo-Mitsubishi Bank with the Finance Ministry (the
External Finance Department) as the account holder.
- At home, the Finance Ministry (the External
Finance Department) shall request the Vietnam Foreign Trade Bank to open the
special-use accounts reciprocal to the Special Account and the Account of
Interests of the Special Account, with the Finance Ministry (the External
Finance Department) as the account holder in order to monitor and account the
already withdrawn money amounts and the amounts of interests on the Special
Account as well as the subsequent debt payment.
- The Finance Ministry (the External Finance
Department) shall sign the application for the first-time capital withdrawal
and send it to the donor with the value prescribed in the agreement, which,
however, must not exceed 50% of the value of the agreement. The first-time
capital withdrawal requires no enclosed vouchers.
b/ Payments made from the Special Account:
- For expenditures made in VND:
+ The investor/project management board shall
collect vouchers and send them to the expenditure control body for inspection
of the expenditures according to the current regulations.
+ After getting the certification from the
expenditure control body, the investor/project management board shall compile
dossiers to be sent to the Finance Ministry (the External Finance Department),
including: The written request for payment to the contractor with certification
by the investor, the accumulated payment claimed and paid, invoice, payment
price bill with certification by the expenditure control body. In case of
advance payment, the advance guarantee of the bank accepted by the investor is
also required.
+ Within 7 days after the receipt of complete
and valid dossiers, the Finance Ministry or the agency authorized by the
Finance Ministry shall send an official dispatch, requesting the Vietnam
Foreign Trade Bank to transfer the payment money at the request of the
investor. Within 3 days after the receipt of the written request, the Vietnam Foreign
Trade Bank shall transfer the money, then send the money transfer notice
enclosed with the money transfer vouchers of the bank to the Finance Ministry
so that the latter shall carry out the procedures to withdraw capital for
addition to the Special Account.
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+ The Finance Ministry shall authorize the
Vietnam Foreign Trade Bank to automatically deduct the Special Account for
payment of import L/Cs in strict accordance with the regulations on mode of
payment by L/C.
+ After the payment, the Vietnam Foreign Trade
Bank shall duplicate the import vouchers enclosed with the certification of
payment and send them to the Finance Ministry (the External Finance Department)
for carrying out the procedures to withdraw capital for addition to the Special
Account.
c/ Withdrawal of capital for addition to the
Special Account:
The Finance Ministry shall gather the payment
vouchers of the Vietnam Foreign Trade Bank, enclosed with the written request
for payment of expenses in VND, or the import vouchers enclosed with the
written certification of payment by the Vietnam Foreign Trade Bank and send the
capital withdrawal application to the JBIC.
If the value of the first withdrawn capital
amount is equal to 50% of the agreement value, the subsequent additional
capital withdrawals may represent only 50% of the requested value. If the value
of the first-time withdrawn capital amount is smaller than 50% of the agreement
value, the Finance Ministry (the External Finance Department) may withdraw 100%
of the requested value until the total withdrawn capital value represents 50%
of the agreement value. Then, the subsequent additional capital withdrawals
shall be entitled to the addition equal to 50% of the value of the capital
withdrawal request in order to ensure that when 100% of the agreement value are
disbursed, the donor(s) can fully recover the vouchers on capital withdrawal.
5. Process of capital withdrawal for credit
projects or credit constituents:
Credit projects or credit constituents of
projects shall be effected as follows: Depending on the demands for further
loans and expenditures on the project contents, the credit institutions
undertaking the re-borrowing shall prepare the dossiers on capital withdrawal
from the donor to effect the further loans or expenditures for the project’s activities in strict
accordance with the provisions of the loan agreement, the project agreement (if
any) and the current regulations on credit, bidding, procurement, etc.
The credit institutions undertaking the
re-borrowing should forward the following vouchers to the Finance Ministry:
- The official dispatch requesting the capital
withdrawal;
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- Vouchers evidencing the legality, validity of
the expenses for the project’s
activities.
Within 5 working days after the receipt of
complete and valid dossiers, the Finance Ministry (the External Finance
Department) shall consider and sign the capital withdrawal application to be
sent to the donor.
For projects financed by the WB and/or the ADB,
the Finance Ministry (the External Finance Department) shall, within 5 working
days, send its written comments to the re-borrowing credit institution and the
service bank. Within 2 working days after getting the written comments of the
Finance Ministry, the service bank shall, together with the re-borrowing credit
institution, sign the capital withdrawal application to be send to the donor.
VI. REGIMES OF REPORTING ON,
FINAL SETTLEMENT, INSPECTION AND AUDITING OF THE CAPITAL WITHDRAWAL AND USE BY
ODA PROJECTS
1. Monthly, the service banks shall have to send
their report on the duplication and listing of the Special Accounts/ Advance
Accounts to the Finance Ministry (the External Finance Department and the
project management board).
2. Monthly, the project management boards shall
have to make the copies and listing of amounts already disbursed by the
donor(s) according to each form of capital withdrawal, then send them to the
Finance Ministry (the External Finance Department) and the expenditure control
body.
3. The investors of ODA projects and programs
shall have to make quarterly/annual reports on the implementation of the
investment capital or the final settlement of capital for administrative and
public-service expenses and the report on the settlement of the completed
projects. The accounting reports and the final settlement reports shall have to
comply with the current regulations of the Finance Ministry.
4. Depending on the request of the donor(s),
annually, ODA projects and programs must be audited by an independent auditing
company accepted for the auditing by the Finance Ministry. The auditing plan,
the decision on selection of the auditing company and the auditing contract
must conform to the regulations of the donor(s) and approved by the Finance
Ministry. The auditing report must be sent to the Finance Ministry within 15
days after completion. (For projects financed by the World Bank and/or the
Asian Development Bank, the auditing reports shall be concurrently sent to the
State Bank (the International Cooperation Department).
5. The Finance Ministry shall conduct the
regular or irregular financial examination and inspection of organizations and
units, that use ODA capital, particularly the inspection of the use of the
special accounts.