Notice of Ministry of Finance People's Republic of China on Printing and Distributing the Several Opinions on Further Strengthening the Preliminary Work of the Loan Projects of International Financial Organizations.

财政部关于印发《关于进一步加强国际金融组织贷款项目前期工作的若干意见》的通知

 

Promulgating Institution: Ministry of Finance

Document Number: Cai Ji [2009] No.19

Promulgating Date: 02/16/2009

Effective Date: 02/16/2009

颁布机关: 财政部

文      号: 财际[2009]19号

颁布时间: 02/16/2009

实施时间: 02/16/2009

 

To the finance departments (bureaus) of all provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated under the state planning (excluding the finance departments (bureaus) of Tibet Autonomous Region),

    各省、自治区、直辖市、计划单列市财政厅(局)(西藏不发):

The preliminary work of the loan projects of international financial organizations is of great importance to the quality and benefits of the projects. For the purposes of strengthening the preliminary work of loan projects, enhancing the level of project administration, Ministry of Finance People’s Republic of China has formulated Several Opinions on Further Strengthening the Preliminary Work of the Loan Projects of International Financial Organizations on the basis of soliciting for opinions from all walks of life. These Opinions are hereby printed and distributed to you for your implementation accordingly. In case you encounter any questions in the implementation, please inform Ministry of Finance People’s Republic of China by letter.

    国际金融组织贷款项目的前期工作对于项目的质量和效益至关重要。为进一步加强贷款项目的前期工作,提高项目管理水平,在征求各方意见的基础上,我部组织拟定了《关于进一步加强国际金融组织贷款项目前期工作的若干意见》,现印发给你厅(局),请参照执行。执行中有何问题,请函告我部。

Annex: Several Opinions on Further Strengthening the Preliminary Work of the Loan Projects of International Financial Organizations

    附件:关于进一步加强国际金融组织贷款项目前期工作的若干意见

Ministry of Finance People's Republic of China

February 16, 2009

    财政部

    二○○九年二月十六日

Annex:

Several Opinions on Further Strengthening the Preliminary Work of the Loan Projects of International Financial Organizations

To implement and carry into effect the spirits of the important instructions of Premier Wen, Jiabao that Ministry of Finance People's Republic of China "should seriously studying the issues of loans of international financial organizations and conducting strict control and administration thereof", in view of the major characteristics and problems in the cooperation among international financial organizations in the new times and stage, and in accordance with Measures for Administration of Loans and Grants of International Financial Organizations and Foreign Governments (Order No. 38 of Ministry of Finance People's Republic of China) and other relevant provisions, the opinions on further strengthening the preliminary work of the loan projects of international financial organizations are hereby put forward as follows:

I. Further specifying the duties and attaching great importance to the preliminary work of loans

In accordance with the definitions of departmental duties in the "Three Determinations"(determination of functions, posts, and the number of new institutions) of the State Council and the spirits of the written instructions of Premier Wen, Jiabao that "Ministry of Finance People's Republic of China should be designated as the department for uniform administration of foreign debts of the government", Ministry of Finance People's Republic of China, as the department for uniform administration of foreign debts of the government, shall be responsible for studying and determining the administrative principles of foreign debts of the government, formulating basic administrative systems, fulfilling the obligations of a "borrower" and taking charge of the administration over the whole process of "the borrowing, use and repayment of the loans". A local finance department, as representative of the creditor's rights and liabilities relating to the loans of international financial organizations to the government at the same level, shall assume the duties of the departments for the administration of loans and shall be responsible for the local administration of the whole process of the loans thereof. The preliminary work of the loan projects of international financial organizations has a direct bearing on the quality and benefits of the loans. Local finance departments shall further unify their thought, enhance their awareness, conscientiously strengthen the preliminary work such as loan application, review, assessment, as well as determination of on-lending relationship and clarification of repayment liability in order to continuously regulate the acts of raising foreign debts, and prevent and eliminate risks of foreign debts.

II. Conducting loan planning in an orderly manner and seriously doing a good job in loan application

The planning work of the loans of international financial organizations is a crucial link in the administration of foreign debts of the government. All provincial finance departments shall, in accordance with the requirements prescribed in Order No.38 of Ministry of Finance People's Republic of China, actively do a good job in the application of the loans of international financial organizations.

(1) The formulating principle of the loan planning of international financial organizations requires that: the loans of international financial organizations shall conform to the strategies of the development of national economy and society, be in line with the requirements for the loans thereof, embody the functions of public finance and the principle of unifying the liabilities, powers and interests, realize the sustainability and sound cycle of debts and push forward the development of science.

(2) Local finance departments shall examine the application for loans of international financial organizations by the project entities. The examination work shall be creative and demonstrative by focusing on the project finance, economic and social benefits, debt repayment capability, debt risks, supporting funds, on-lending arrangements, clarification of repayment liability, etc. Local finance departments may, in the examination of loan applications, organize experts to conduct surveys and demonstrations and necessary on-site inspections, wherein relevant departments and institutions shall cooperate and be responsible for providing relevant materials and certification documents that are true, accurate and complete. The projects which fail to pass the examination shall not be applied to a finance department at a higher level.

(3) For the local projects applied to be listed in the loan planning of international financial organizations, the provincial finance departments shall submit the loan applications to Ministry of Finance People's Republic of China based on the examination of the loan applications by project entities. For the projects applied by relevant departments of State Council and other institutions to be listed in the loan planning of international financial organizations, if the debts are to be burdened by local finance, a repayment commitment letter presented by relevant provincial finance departments shall also be submitted .Any projects which are applied without submitting the loan applications or repayment commitment letters according to relevant provisions shall not be listed in the loan planning of international financial organizations.

(4) A loan application shall state the purpose and necessity of the loans, main contents of the project, establishment of the project execution institution, resources of loans and supporting funds, on-lending arrangement, debt repayment liabilities, the level of foreign debts, repayment capabilities of foreign debts of the local place of the project and other main contents, and shall conduct initial analysis on the economic and social benefits of the project (and the format for the loan application shall be referred to in Annex 1).    

III. Making considerate arrangements for the project assessment and enhancing the level of scientific decision-making

Provincial finance departments shall organize assessment of the projects which have been listed in the loan planning of international financial organizations. The justification of a decision on the loans has a bearing on the smooth progress of the project, the full economic benefits of the loan funds, the realization of the project's economic and social objectives and the on-time repayment of the debts of the government. Therefore, assessment of the loan projects is a most important step in the preliminary work thereof. Local finance departments shall make considerate arrangements and conduct this work in an earnest manner.

(1) In light of the characteristics of the projects and the assessment requirements, local finance departments may conduct assessment on the loan projects by themselves or may entrust relevant experts or professional assessment institutions with the assessment. In case assessment expenses are involved, the expenses shall in principle be burdened by the financial budgets at the same level.

(2) The focus of the assessment of the loan projects shall include: the debt burden and financial affordability of the provincial governments; the financial, economic and social benefits of the loan projects; the capacity of the local finance, project entities and competent administrative departments in financing supporting funds of; the financial conditions of the project entity and the assured source of supporting funds; feasibility of the financing scheme, guarantee measures of the debt repayment, analysis of the funds resources for repayment, plans and predicts of the paying-off of principals and interests; establishment of the project execution institutions, on-lending arrangements; and other contents related to the project assessment.

(3) The assessment time of the loan projects shall be linked with the international financial organizations and domestic procedures. Provincial finance departments shall present Opinion of the Financial Assessment (the format whereof shall be referred to in Annex 2) to be submitted for examination by Ministry of Finance People's Republic of China generally after the international financial organizations have completed the project evaluation and relevant departments have completed the replies to the environmental impact report, the land utilization report, the feasibility study report, and other domestic procedures. Ministry of Finance People's Republic of China shall make the opinions of passing the assessment as one of the preconditions for submitting requests to the State Council for instructions on negotiations of foreign loans.

IV. Carrying out relevant preparations for the projects in an earnest manner and being cooperative in doing a good job in negotiations and talks with the foreign party

Provincial finance departments shall, upon receiving the loan planning issued by Ministry of Finance People's Republic of China, timely notify relevant departments and the project entities thereof, actively carry out various preparatory work together with relevant departments in combination with the preparatory procedures of loans of international financial organizations and cooperate with Ministry of Finance People's Republic of China in doing a good job in negotiations and talks on foreign loans with the foreign party. Provincial finance departments shall report every six months in writing the progress of the preparatory work of every project, point out the existing problems in the preparatory work of the project, and timely explain any delay of the preparatory work thereof and put forward settlement plans for the problems.

(1) Strengthening administration of creditor's rights and liabilities of loans. Provincial finance departments shall earnestly carry out the creditor's rights and liabilities, make every debtor at every level fully aware of the risks they face and the debt liabilities they assume, seriously study the existing problems in the on-lending and guarantee links, instruct and supervise relevant departments to set up standardized loan on-lending and guarantee mechanisms, define the repayment liabilities of the project entities, improve such formalities as guarantee, commitment, mortgage, etc., and ensure the final implementation of the creditor's rights and liabilities of loans. Local finance departments shall urge the project entities to assure the supporting funds and conscientiously formulate repayment plans.

(2) Establishing and improving the administrative institutions of the loan projects. Local finance departments shall urge the establishment and improvement of the loan project execution and implementation institutions and the cross-department coordination mechanism in order to ensure the smooth progress of the projects. The project offices shall be responsible for the project preparation, coordination, execution and other specific work and shall be staffed with enough full-time professionals to ensure the stability of the institution and personnel and enhance the administrative efficiency.

(3) Strengthening the guidance for loan project entities. Local finance departments shall guide and supervise project entities to establish and improve all kinds of regulations and rules, such as measures for project administration, accounting measures and measures for financial administration, and attach importance to the preliminary training for the project entities. All relevant departments and project entities shall timely submit the copies of the project feasibility study report, the environmental impact report, the report of resettlement of immigrants and other documents to the finance departments. Provincial finance departments shall intensify the supervision and administration of procurement through biddings.

(4) Being cooperative in doing a good job in negotiations and talks with the foreign party. Ministry of Finance People's Republic of China shall be uniformly responsible for the negotiations and talks with the foreign party on debts of the government. Provincial finance departments shall cooperate with Ministry of Finance People's Republic of China in earnestly doing a good job in the preparatory work prior to the negotiations, timely organizing the project entities and relevant departments to conscientiously study the negotiation agreements and documents, and examining the Project Evaluation Report, Loan Agreement, Project Agreement, Procurement Plan, Payment Letter, etc. Provincial finance departments shall provide a name list of the recommended persons for participation in loan negotiations in the local place to Ministry of Finance People's Republic of China and submit in advance the Suggestions for Loan Negotiation which mainly includes the negotiation focus, major problems and suggested countermeasures. At the end of the negotiations, they shall timely present the Affirmation Letter of Project Agreements and other documents, and put forward the suggested time for signature.

The task of doing a good job in the preliminary work of the loans of international financial organizations is in need of participation and cooperation by various parties.>Local finance departments shall, in the preliminary work of the projects, conscientiously give play to their role as the department for uniform administration of foreign debts of the government, coordinate the relations among relevant departments, effectively link up domestic examination and approval and the preparatory procedures of the loans of international financial organizations, and timely solve the existing problems in the preliminary work of the projects to guarantee the projects' smooth progress.

   附件：

    关于进一步加强国际金融组织贷款项目前期工作的若干意见

   为贯彻落实温家宝总理关于财政部“要认真研究国际金融组织贷款问题，从严控制和管理”的重要指示精神，针对与国际金融组织合作在新时期、新阶段的主要特点和问题，根据《国际金融组织和外国政府贷款赠款管理办法》（财政部令第38号）等相关规定，现就进一步加强国际金融组织贷款项目前期工作提出如下意见：

   一、进一步明确职责，高度重视贷款前期工作

   根据国务院“三定方案”对部门职责的界定和温总理关于“应明确财政部为政府外债的统一管理部门”的批示精神，财政部作为政府外债的统一管理部门，负责研究确定政府外债的管理原则、制定基本管理制度，对外履行“借款人”义务，负责“借、用、还”全过程管理。地方财政部门作为本级政府国际金融组织贷款的债权、债务代表，承担贷款归口管理部门职能，统一负责本地区国际金融组织贷款的全过程管理。国际金融组织贷款项目前期工作直接关系到贷款的质量和效益，地方财政部门要进一步统一思想，提高认识，切实加强贷款申报、审查、评审、转贷关系确定、还贷责任落实等前期工作，不断规范举借外债行为，防范和化解外债风险。

   二、有序开展贷款规划，切实抓好贷款申报

   国际金融组织贷款规划工作是政府外债管理的一个重要环节。各省级财政部门要根据财政部令第38号文件的要求，积极做好国际金融组织贷款申报工作。

   （一）国际金融组织贷款规划的制定原则是：国际金融组织贷款应当符合国民经济和社会发展战略，符合国际金融组织的贷款要求，体现公共财政职能，体现责权利相统一的原则，实现债务的可持续性和良性循环，促进科学发展。

   （二）地方财政部门应当对项目单位提出的国际金融组织贷款申请进行审查。要重点把握项目财务、经济和社会效益、偿债能力、债务风险、配套资金、转贷安排和债务落实等问题，突出创新性和示范性。地方财政部门审查贷款申请，可组织专家调查论证并进行必要的实地考察，相关部门和机构应予配合，并负责提供真实、准确、完整的相关资料及证明文件。审查不合格的项目不得向上级财政部门申报。

   （三）地方申请列入国际金融组织贷款规划的项目，省级财政部门应在审查项目单位贷款申请的基础上，向财政部提交贷款申请书。国务院有关部门和其他机构申请列入国际金融组织贷款规划的项目，凡债务由地方承担的，还应同时附送相关省级财政部门出具的还款承诺函。未按规定提交贷款申请书和还款承诺函的项目一律不予列入国际金融组织贷款规划。

   （四）贷款申请书需载明贷款的目的和必要性、项目主要内容、项目执行机构设置、贷款及配套资金来源、转贷安排、债务偿还责任、项目所在地区外债负担水平及外债偿债能力等主要内容，并对项目经济和社会效益进行初步分析（具体格式见附１）。    

   三、周密组织项目评审，提高科学决策水平

   省级财政部门对已列入国际金融组织贷款规划的项目应当组织评审。贷款决策的正确与否，关系到项目能否顺利实施，贷款资金的效益能否充分发挥，项目的经济和社会目标能否实现，政府债务能否按期偿还。因此，贷款项目评审是前期工作中极其重要的关键步骤。地方财政部门要严密组织，认真开展此项工作。

   （一）依据项目特点及评审要求，地方财政部门可自行对贷款项目进行评审，也可委托专家或专业评审机构评审。如涉及评审费用，原则上应由同级财政预算列支。

   （二）贷款项目评审的重点包括省级政府的债务负担和财政承受能力；贷款项目的财务效益、经济效益和社会效益；地方财政、项目单位和主管部门配套资金的筹措能力；项目单位的财务状况和配套资金的落实情况；筹资方案的可行性，偿还债务保证措施、偿债资金来源分析，还本付息计划和预测；项目执行机构设置、转贷安排，以及其他与项目评审有关的内容等。

   （三）贷款项目评审的时间应与国际金融组织以及国内程序等相衔接。省级财政部门一般应在国际金融组织完成项目评估，以及有关部门完成环境影响报告、土地利用报告、可行性研究报告批复等其他国内程序后出具财政评审意见书（具体格式见附２），并提交财政部审查。财政部将评审合格意见作为上报国务院对外贷款谈判请示的前提条件之一。

   四、认真落实项目相关准备，配合抓好对外磋商谈判

   省级财政部门接到财政部下达的贷款规划后，应及时通知相关部门和项目单位，结合国际金融组织贷款项目准备程序，积极会同有关部门抓紧开展各项准备工作，配合财政部抓好对外贷款磋商谈判。省级财政部门每半年应以书面形式报告每个项目的准备进展，反映项目准备中存在的问题，项目准备若有延误情况要及时说明原因并提出解决方案。

   （一）加强贷款债权债务管理。省级财政部门要认真落实债权债务，使每一级债务人充分意识到所面临的风险和承担的债务责任，认真研究转贷和担保环节存在的问题，指导和监督相关部门建立规范的贷款转贷和担保机制，明确项目单位的还款责任，完善担保、承诺、抵押等手续，确保贷款债权债务的最终落实。地方财政部门要督促项目单位落实配套资金、认真制定还贷计划。

   （二）建立和完善贷款项目的管理机构。地方财政部门要督促建立和完善贷款项目执行和实施机构及跨部门协调机制，以保证项目的顺利实施。项目办负责项目准备、协调、执行等具体工作，要配备专业且足够的专职人员，保证机构和人员稳定，提高管理效率。

   （三）加强对贷款项目单位的指导。地方财政部门应指导和监督项目单位建立、健全各项规章制度，包括项目管理办法、会计核算办法、财务管理办法等，重视项目单位的前期培训。各有关部门和项目单位应及时向财政部门抄送项目可行性研究报告、环境影响评价报告、移民搬迁报告等。省级财政部门要加强招标采购监督管理的力度。

   （四）配合抓好对外谈判磋商工作。财政部统一负责政府外债项目对外磋商谈判工作，省级财政部门要配合财政部认真做好谈判前的各项准备工作，及时组织项目单位及相关部门，认真研究谈判协议文件，对《项目评估报告》、《贷款协定》、《项目协议》、《采购计划》和《支付信》等文件进行审查。省级财政部门应向财政部推荐本地区参加贷款谈判人员名单，并提前报送《贷款谈判建议方案》，具体内容包括谈判重点、主要问题及建议对案。谈判结束后，要及时出具《项目协议文本确认函》等文本，并提出建议签字时间等。

   做好国际金融组织贷款前期工作需要多方的共同参与和协作。地方财政部门在项目前期工作中，要切实发挥政府外债统一管理部门的职能，协调好有关部门的关系，衔接好国内审批和国际金融组织贷款准备程序，及时解决项目前期工作中存在的问题，确保项目的顺利实施。