Vietnam Environmental Protection Fund deploys tasks in 2024

Deputy Minister of Natural Resources and Environment Tran Quy Kien chaired the meeting.

Reporting at the meeting, Mr. Nguyen Duc Thuan - Director of Vietnam Environmental Protection Fund said: The Environmental Protection Fund has been approved for the 2024 Operation Plan in Decision No. 3620/QD-BTNMT of the Minister of Natural Resources and Environment and the financial plan in Decision No. 02/QD-HDQL of the Fund Management Board. Accordingly, some specific key indicators are as follows:

The total planned output (revenue) in 2024 is 642.5 billion VND, including: Disbursement of loan capital (State budget) 371.7 billion VND; loan capital recovery 252.3 billion VND; receiving environmental protection deposit 15.1 billion VND; sponsorship, co-sponsorship and other support for environmental protection activities 2.9 billion VND; post-investment interest rate support 350 million VND; collection of fees for selling and transferring emission reduction certificates (CERs) 200 million VND. Bad debt ratio below 3% (in accordance with regulations of the State Bank of Vietnam ).

Mr. Nguyen Duc Thuan - Director of Vietnam Environmental Protection Fund reported at the meeting.

In addition, according to the plan approved by the Ministry, in 2024, credit activity output (disbursement and principal collection) accounts for 97% of the total planned output (VND 624 billion/VND 642.5 billion), therefore, the completion of the assigned planned output mainly depends on the results of credit activities.

According to Mr. Nguyen Duc Thuan, in order to promote credit activities in a more proactive and professional manner to complete the plan for 2024 and 2025, and to achieve strong credit growth in 2026 and the following period, the Fund has proposed a number of solutions such as: Encouraging the proactiveness and professionalism of credit officers; strengthening customer development and signing credit contracts, and speeding up the appraisal process of loan projects.

Along with that, research and propose dividing the activities of the two Credit Departments by region instead of by lending object as at present. Implement appropriate loan security measures in addition to the main measure of bank guarantee as at present.

Speaking at the meeting, Deputy Minister Tran Quy Kien requested that the Vietnam Environmental Protection Fund closely follow the contents of the approved 2024 action plan. Currently, the Ministry of Natural Resources and Environment is focusing resources on amending Decree 08/2022/ND-CP detailing a number of articles of the Law on Environmental Protection, so the Environmental Protection Fund needs to focus on studying the articles and clauses related to the Fund and needs to closely coordinate with the Department of Legal Affairs and the Department of Environment.

In addition, the Environmental Protection Fund also needs to review and amend Decision 78/2014/QD-TTg on the organization and operation of the Environmental Protection Fund after the Decree amending Decree 08/2022/ND-CP detailing a number of articles of the Law on Environmental Protection is issued to replace it so that the content is consistent and unified.

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