Establishment of Phu Tho Province Farmers Support Fund, capital of 126 billion VND

The charter capital of the Phu Tho Provincial Farmers Support Fund at the time of establishment was over 126 billion VND, expected to reach at least 238 billion VND by 2030.

The People's Committee of Phu Tho province has just issued a Decision on the establishment of the Phu Tho Provincial Farmers Support Fund.

Accordingly, the Phu Tho Provincial Farmers Support Fund was established on the basis of merging the Phu Tho Provincial Farmers Support Fund, Vinh Phuc Provincial Farmers Support Fund and the former Hoa Binh Provincial Farmers Support Fund.

The new Phu Tho Provincial Farmers Support Fund has an international transaction name: Phu Tho Provincial Supporting Fund For Farmers (abbreviated as PSFF).

Phu Tho farmers with biosafety livestock farming model. Photo: PT.

This is a non-budgetary state financial fund, under the Phu Tho Provincial Farmers' Association, operating not for profit, preserving and developing capital; performing functions and tasks as prescribed in Decree No. 37/2023/ND-CP dated June 24, 2023 of the Government and the Charter of organization and operation approved by competent authorities; having legal status, charter capital, seal, and being allowed to open accounts at the State Treasury, the Vietnam Bank for Social Policies and commercial banks operating legally in Vietnam in accordance with the law.

The charter capital of the Phu Tho Provincial Farmers Support Fund at the time of establishment was over 126 billion VND; it is expected to reach at least 238 billion VND by 2030. Annually, the charter capital will be allocated according to actual needs and budget balance capacity, ensuring sufficient charter capital by 2030 (estimated at about 22.4 billion VND/year).

The People's Committee of Phu Tho province assigned the Department of Home Affairs to coordinate with the Farmers' Association, the Phu Tho Provincial Farmers' Support Fund, and the Department of Finance to advise and implement regulations related to the organization and operation of the Phu Tho Provincial Farmers' Support Fund according to regulations.

Source: https://nongnghiepmoitruong.vn/thanh-lap-quy-ho-tro-nong-dan-tinh-phu-tho-von-126-ty-dong-d786453.html