Decision 211/1999/QD-TTg on loan interest rate for industrial raw material afforestation promulgated by the Prime Minister

DECISION

ON THE RATES OF INTEREST ON LOANS FOR INDUSTRIAL MATERIAL FOREST PLANTING

THE PRIME MINISTER

Pursuant to the Law on Organization of the Government of September 30, 1992;Pursuant to the Law on Forest Protection and Development of August 19, 1991;Pursuant to Decision No. 661/1998/QD-TTg of the Prime Minister of July 29, 1998;At the proposal of the Minister of Agriculture and Rural Development,

DECIDES:

Article 1.- To stipulate the rate of interest on loans for planting of the industrial material forests, which shall be 0.81%/month, for afforestation under the 1999 production plan.

To apply the interest rates on loans for afforestation as from January 1, 2000 according to Decree No. 43/1999/ND-CP of June 29, 1999 on the State’s development and investment credits.

Organizations, households and individuals engaged in afforestation (called forest owners) are entitled to borrow capital according to the plants’ economic cycles; when exploiting the forests, the forest owners shall have to pay both the loan principals and interests without accrued interests.

Article 2.- Forest owners are entitled to borrow capital from the development support funds, other sources of preferential credit funds, the ODA funds of various countries, international organizations and other sources of borrowing.

Article 3.- This Decision takes effect 15 days after its signing.

The Ministers of Planing and Investment; Agriculture and Rural Development as well as Finance, and the Governor of the State Bank of Vietnam shall have to implement this Decision.

---------------

This document is handled by Vinas Doc . Document reference purposes only. Any comments, please send to email: [email protected]