Financing enterprises to guarantee production tied to environmental protection, Environmental Protection Fund constantly improves legal document system to increase charter capital of the fund from 30 billion to 100 billion VND.
Notably, due to building streamlined, logical regulations and procedures to shorten the time and simplify procedures, in 2015, Environmental Protection Fund has been on the right track, heightened its efficiency and operation quality. The fund has not only paid attention to propaganda works but also funded environmental improvement and rehabilitation in mining activities, reaching 198% target; enhanced specialization and shortened evaluation time.
IP wastewater treatment system renovating project was funded by Environmental Protection Fund
Therefore, in the last year, Environmental Protection Fund obtained a total revenue of 7.104 billion VND, reaching 122% target; up 13% over the previous year. However, total costs rose 18% over the previous year. The reason was costs of interest payment for corporate deposits increased 3.6 times, due to the application of the interest rate prescribed by Decree 19/2015 / ND-CP dated Feb 14 2014 of the Government; pre-tax profit in 2015 reached 4.131 billion VND, reaching 145% target, up 9% over the previous year.
To improve performance, the fund will promote environmental protection, propaganda innovation, enhance communication and promotion of financial support activities to subjects; strengthen cooperation between Environmental Protection Fund and environmental management agencies in the province to update information and promote financial support activities; post information as stipulated by Department of Natural Resources and Environment.
Besides, the fund will advise Department of Natural Resources and Environment, Department of Finance to add more working capital to the fund with an estimated additional amount of 6.4 billion VND from environmental protection charges for wastewater in 2016; cooperate with Offices of Water Resources, Minerals and Meteorology, Bureau of Environmental Protection to list and ask units to deposit for environmental improvement and rehabilitation with an estimated deposit amount of 5.369 billion VND.
Also, in 2016, to the evaluation plan, Environmental Protection Fund will disburse about 30 billion VND, increasing the total outstanding debt by over 43 billion VND, up 52% over the previous year. Based on the actual debt recovery situation and 2016 plan, the fund sets some targets, namely, total revenue of 17,071 billion VND including 15.237 billion VND of principal debts; 1.833 billion VND of interest debts; plans ad carries out inspection on uses of capital after disbursement, collaterals of businesses borrowing loans at the fund.
Reported by P.V – Translated by Ngoc Huynh
