Functions and Obligations

15/06/2015 2:35:01 CH

Function of Vietnam Environmental Protection Fund

Vietnam Environment Protection Fund has function of receiving capital sources from the state budget; sponsor, contribution, commission from domestic and international organizations, individuals to support finance for environment protection activities through the country.

Obligations

1. Receive capital sources as defined in Article 6 of this Decision to makebusiness capital sources for Vietnam Environment Protection Fund.

2. Support finance for programs, projects, activities in nature and biodiversityprotection, prevent, protect and overcome pollution, deterioration andnational, multi-section, multi-region environmental risks or resolvecomprehensive environmental problems whose great impacts are indicated asfollowing:

a) Lend with preferential interest;

b) Support borrowing interest, guarantee borrowings for environmental projectswhen borrowing from credit organizations according to regulations by law.

c) Support financial for constructing, implementing projects of mobilizing capitalsources of the Fund in order to carry out tasks, activities of treating andovercoming environmental pollution, coping with, resolving affects caused byenvironmental risks and accidents; for programs, projects basing on PrimeMinister decision; for celebrating prizes of environment; methods of rewardingto honor top organizations, individuals in environmental protection basing ondecision by Minister of Ministry of Natural Resources and Environment; forprojects, tasks in environmental protection defined in regulations onorganization and activities of Vietnam Environmental Protection Fund.

3. Being Coordinate sponsor with domestic and international finance, GlobalEnvironment, foreign environment funds, sector and local Funds to lendenvironmental projects capitals in accordance with norms, functions of VietnamEnvironment Protection Fund to serve environment protection activities based onlow rules.

4. Investigate; approve level, time and forms of supporting finance for projects,tasks of protecting environment that use investment support capitals formVietnam Environment Protection Fund according to regulations on organizationand activities of Vietnam Environment Protection Fund.

5. Use unemployed capital without state origin and agreed by capital providingorganizations and individuals to buy government bonds according to law.

6. Register, examine, and manage certified credits of reducing green-houseomissions (hereinafter called CERs; one CER is confirmed by a ton of CO2,equivalent); register receiving, dividing and selling CERs to CERs owners ororiginal sources of CERs; collect fees of buying CERs to pay for collectionexpenses; extract to support reporting propaganda activities of clean developmentmechanism  (hereinafter called CDM); setup, construct, investigate and approve documents of investment projects  according to clean development mechanism(hereinafter called CDM projects); manage and examine implementation of CDMproject and other purposes relating to CDM according to regulations by law;support prices for products of CDM projects according to law regulations.

7. Sign environment coverage fund in exploring minerals with allowed organizationsand individuals.

8. Allocate and manage finance in important environment protection programs andprojects according to distribution by Minister of Ministry of Natural Resourcesand Environment and decision by authorized levels.

9. Carry out other tasks distributed by Minister of Ministry of Natural Resourcesand Environment.