Meeting of the Board of Directors of the Provincial Development Investment Fund and the Provincial Land Development Fund

Wednesday, April 17, 2024 | 14:55:02

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On the morning of April 17, comrade Nguyen Quang Hung, member of the Provincial Party Standing Committee, Permanent Vice Chairman of the Provincial People's Committee, Chairman of the Management Board (MB) of the Provincial Development Investment Fund (DIF) and the Provincial Land Development Fund (LDF) chaired a meeting of the Provincial People's Committee to listen to the Management Board of the Provincial Development Investment Fund (DIF) and the Provincial Land Development Fund (LDF) report on the results of operations in the first quarter of 2024, and directions and tasks for the second quarter of 2024.

Comrade Nguyen Quang Hung, Member of the Provincial Party Standing Committee, Permanent Vice Chairman of the Provincial People's Committee, Chairman of the Board of Directors of the Provincial Investment and Development Fund and the Provincial Development Fund spoke at the meeting.

Despite many difficulties, the management agency of the Investment Development Fund has closely followed the resolution of the Fund Management Board to organize the implementation of assigned tasks. The Investment Development Fund has recovered the due counterpart capital of 2 projects to repay the Provincial Investment Development Fund with an amount of 8,120.5 million VND; advanced capital for eye clearance work with a project with an amount of 4,233.1 million VND. The Fund has submitted to the competent authority for a decision to lend a project in the list of investment lending fields of the Fund with a loan limit of 7,350 million VND, raising the total loan limit to 43,850 million VND. Urged to recover 1,500 million VND of advance funds for cement sellers to repay the provincial budget. Accumulated to the end of the first quarter of 2024, the Fund has repaid the provincial budget 127,700/140,658.8 million VND.

In the first quarter of 2024, the PTĐ Fund's operational management agency and the entrusted unit actively urged the recovery of counterpart capital for 2 projects with a total amount of 8,120.5 million VND. From there, they balanced and advised the Provincial PTĐ Fund Management Board to issue a decision to advance capital to the Tien Hai District People's Committee to carry out the site clearance work for the Bac Dong Dam residential area infrastructure project (Tien Hai town) with a total amount of 4,233.1 million VND. The entire counterpart capital of 4,233.1 million VND was promptly disbursed immediately after the capital decision of the Fund Management Board was issued, reaching 100% of the plan.

At the meeting, the representative of the Provincial Investment Fund's executive agency also reported on the approval of the settlement of revenue and expenditure differences and the allocation of funds in 2023, and approved the report on the classification of operating results in 2023; the Provincial Investment Fund reported on the approval of the settlement of regular revenue and expenditure in 2023 of the fund.

Representative of Provincial Investment Fund reported at the meeting.

Concluding the meeting, the Standing Vice Chairman of the Provincial People's Committee, Chairman of the Board of Directors of the Provincial Development Investment Fund and the Provincial Development Fund requested the Provincial Development Investment Fund and the Provincial Development Fund to continue to closely follow the direction of the Provincial People's Committee and the Fund's Board of Directors; be flexible in management and implementation to promptly serve the socio -economic development tasks of the province.

Regarding the tasks of the second quarter, he requested the Provincial Investment Development Fund to step up the search for investment loan projects, improve loan appraisal to accurately and honestly assess the effectiveness of the project and the repayment capacity of the borrower; strengthen the debt collection work, and at the same time have appropriate and flexible solutions to make the debt collection work effective. The Provincial Investment Development Fund continues to step up the recovery of counterpart funds from projects with capital advances that have matured; closely coordinate with relevant levels, sectors and entrusted units in recovering counterpart funds, especially projects that have been allocated investment capital from the 2024 budget.

Ngan Huyen

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