The charter capital of the Vietnam Environment Protection Fund (VEPF) will be increased from VND 500 billion to VND 1 trillion during 2015-2017 as prescribed in the Prime Minister’s Decision No. 02/2014/QD-TTg of January 13.
The increase has been decided by the Prime Minister at the request of the Ministry of Natural Resources and Environment after reaching agreement with the Ministry of Finance.
VEPF is the national fund for environmental protection and operates as a state financial institution under the Ministry of Natural Resources and Environment. It has the legal person status, charter capital, its own balance sheet and seal, and may open accounts at the State Treasury and credit institutions in accordance with law.
The fund receives state budget allocating to provide soft loans, interest-rate support or loans for programs, projects, activities and tasks to protect the environment and cope with climate change.
It is a not-for-profit institution and must preserve its charter capital and self-finance its management expenses.
It is exempted from taxes and other state budget remittances for its environmental protection activities in accordance with the laws on taxes and the state budget.
The fund’s financial activities will be examined, inspected and audited by the state financial management agency and the State Audit Office of Vietnam.-