Prime Minister
has approved a guarantee for the project, under conditions that National Power
Transmission Corporation (EVNNPT)
shall allocate sufficient equity for the project, which is in accordance with
project implementation schedules; register an ensured assets for the assets
arisen from credit provided with guarantee by the Government as regulated in
Decree No. 15/2011/NĐ-CP on February 16th 2011 on provision and management
of Government’s guarantee and the relevant guiding documents.
Vietnam Electricity (EVN) is
responsible for monitoring, pushing up the implementation of relevant power
generation projects to ensure power supply for the transmission line projects; monitoring
EVNNPT’s project implementation
progress, the fund use and loan repayment. In case the loan repayment is not
ensured by EVNNPT, EVN as a Mother
company shall arrange to ensure the in-time loan repayment and provide a
commitment to Ministry of Finance.
Guarantee fee is 0.25%/year based on
the loan unpaid amount.
Prime Minister requires EVNNPT to implement project effectively, in
accordance with schedule; reconcile fund sources, ensure a sufficient and
timely repayment in any cases; manage the investment costs, risk on exchange
rate and interest rate fluctuation.
Prime Minister Nguyen Xuan Phuc
assigned Ministry of Industry and Trade to monitor and ensure the
implementation progress of transmission line projects and power generation
projects of Vinh Tan Power centre as approved schedule; follow-up closely the
financial situation of EVN and EVNNPT,
report Prime Minister if EVN and EVNNPT
face with financial difficulties.
Prime Minister approved the contents
of Guarantee letter and assigned Ministry of Finance to, on behalf of
Government of Vietnam, sign the Guarantee letter for the NEXI-untied loan, in
which fund provided by various foreign banks and BNP Paribas is a Mandated Lead
Arranger and Agent bank.
Ministry of Justice is assigned to
provide the legal opinions on guarantee letter and Guarantor ./.