Publication: Magyar Közlöny
Issue: MK-2009-192 (Year: 2009, Number: 192)
Era: 2004-2010
Section: A Kormány 306/2009. (XII. 28.) Korm. rendelete
Paragraph Index: 458

j) MOF: The Ministry of Finance of Vietnam, representing the Sovereign; Article 2 Establishment of the framework programme for financial co-operation The Government of the Republic of Hungary, in accordance with its international development co-operation policy, offers a non-refundable official support through interest rate support and grant element, to tied aid credits (further on: tied aid credit line) disbursed by the Hungarian Export-Import Bank Pte. Ltd. (further on: Eximbank) with the framework conditions set out in the present Agreement, available for financing included in the development aims of high importance of the Socialist Republic of Vietnam. The Government of the Socialist Republic of Vietnam accepts the tied aid credit line and, acting in accordance with its own legal system and international obligations, supports the realisation of the present framework programme of tied aid credit. Contracting Parties express their willingness with respect to the participants of the credit transactions belonging to the present tied aid credit line and will confirm by declarations that pursuant to the provisions of the action statement of the OECD on „Bribery and officially supported export credits” they did not participate in any bribery in relation to the transactions and they are not aware of any corruption. Article 3 Amount of the tied aid credit line and its financial conditions The total value of the project financed under the tied aid credit line is maximum 60 Million EUR. The firm commitment arises on the basis of the individual credit agreement concluded between MOF and Eximbank as stipulated in Article 7 of this Agreement. The concessionality level of credit payable under the tied aid credit line shall be not less than 35% in conformity with the OECD Arrangement. Tenor of the credit disbursed under the tied aid credit line shall not exceed 18 (eighteen) years, which includes maximum 3 years grace period starting from the starting point of credit as defined in the OECD Arrangement, and maximum 15 (fifteen) years repayment period of the credit, 0 percent interest rate. The disbursement period of credit disbursed under the tied aid credit line will be stipulated in the individual credit agreement depending on the particular project. The disbursement period for the individual credits shall not exceed 3,5 (three and a half) years. Relating to the credit disbursed under the tied aid credit line, a risk premium stipulated in the individual credit agreement will be calculated in line with the OECD Arrangement and will be officially supported and counted in as a grant part of the mixed credit. Article 4 Utilisation of the tied aid credit line The tied aid credit line can be utilised for the realisation of projects not objected by signers of the OECD Arrangement during the procedure in conformity with the acceptance rules of the OECD Arrangement and the consultation procedure, respectively. Contracting Parties agree that the Government of the Socialist Republic of Vietnam will apply the tied aid credit line for priority areas specified in the Appendix forming an integral part of this Agreement. The selected project shall be realised by Hungarian exports through companies registered in Hungary. The financing realised under the tied aid credit line may include the foreign content in cases if at least 50 per cent of the export realised by companies registered in Hungary qualifies as of Hungarian origin performed on the territory of the Socialist Republic of Vietnam. The Government of the Socialist Republic of Vietnam or the organisation appointed by it for realisation of the project under priority areas specified in the Appendix, in conformity with its legislation, acting in accordance with generally accepted principles and good procurement practices and Vietnamese procurement procedures, gives the Ministry for National Development and Economy of Hungary information about its decisions. Article 5 Acceptance procedure The Contracting Parties, for acceptance of the projects financed under the credit line as per this Agreement, will follow the procedure below:

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