Decision on Village Development Funds in Poor Districts (Ministry of Agriculture and Forestry)
关于贫困县村级发展基金的决定（农林部）
ຂໍ້ຕົກລົງ ວ່າດ້ວຍ ກອງທຶນພັດທະນາຂັ້ນບ້ານ ຢູ່ ເມືອງທຸກຍາກ (ກະຊວງກະສິກຳ ແລະ ປ່າໄມ້)
Summary
This Decision stipulates the principles and methods for the establishment, organizational structure, funds, financial accounting, lending, merger and dissolution, prohibitions, management committee, and inspection of the Village Development Fund (VDF) in poor districts, with unified national management, replacing the old guideline No. 876 of 2004.
Articles
Article 1
Purpose. This Decision stipulates the principles, regulations, and measures concerning the organization and activities for the establishment and operation of village-level development funds in poverty-stricken counties, serving as the basis for the establishment and management of village-level development funds, to ensure their effectiveness and sustainability, aiming to guarantee transparent and orderly implementation and protect the rights and interests of the people.
Article 2
Village Development Fund for Poor Districts. The Village Development Fund for Poor Districts is a people's fund voluntarily established by the people to generate income and improve the livelihoods of impoverished people. The Village Development Fund for Poor Districts, hereinafter referred to as the "Village Development Fund," is an organization that manages revolving funds within the village. It is a financial support policy provided by the state to funds located in poor districts, enabling them to provide loans for production in agriculture, handicrafts, trade, services, and other occupations, including addressing urgent needs and creating good welfare for the people within the village, following the principles of self-reliance, self-sufficiency, and self-strengthening.
Article 3
Interpretation of Terms. The terms used in this Decision shall have the following meanings: 1. Short-term Loan: refers to borrowing from the "Village Development Fund" with repayment of principal within one year or one production season; 2. Medium-term Loan: refers to borrowing from the "Village Development Fund" with repayment of principal exceeding one year up to two years; 3. Poverty-stricken District: refers to a district that has not yet escaped poverty according to the poverty alleviation standards and development standards prescribed for each period; 4. Poverty-stricken Village: refers to a village that has not yet escaped poverty according to the poverty alleviation standards and development standards prescribed for each period.
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