Environment Protection Fund efficient for environment protection

Binh Duong provincial Environmental Protection Fund has played an important role in promoting and supporting environmental protection activities in the province, to be proven as an effective financial tool to support businesses in implementing environmental protection projects and programs.

Financial support with preferential interest rates

Since its establishment in 2009, the provincial Environmental Protection Fund has provided financial support with preferential interest rates for 107 environmental protection projects with a total amount of nearly 528 billion VND. Typical examples, the Provincial Environmental Protection Fund has supported the investment project of specialized vehicles for transporting household waste, sucking waste and mixing equipment used as compost of the Compost Fertilizer Production Plant of Binh Duong Water and Environment Joint Stock Company (Biwase) with over 17 billion VND; supported the project of constructing a wastewater treatment system with a capacity of 3,500m3 per day/night for Binh Minh Paper Packaging Manufacturing Co. Ltd. with over 18 billion VND.

The provincial environmental protection fund supports preferential loans for the investment project of specialized vehicles for transporting household waste, sucking waste and mixing equipment used as fertilizer at the Biwase compost production plant

For the task of receiving the reserve fund for environmental restoration in mineral exploitation activities, the provincial Environmental Protection Fund has urged, guided, and monitored enterprises to comply with regulations. In the past 15 years, the fund has received deposits for environmental improvement and restoration in mineral exploitation activities for 69 mineral exploitation projects, with a total amount of nearly 133 billion VND. This amount is kept in a separate account by the fund to manage according to regulations, serving the activities of refunding for environmental improvement and restoration for enterprises, as well as paying interest to enterprises at the same interest rate that the fund is currently lending in each period.

Ms. Dinh Sao Mai, Director of the Provincial Environmental Protection Fund, said that the fund effectively controls sources of debt revenue, preventing bad debts and avoiding budget deficits; ensuring financial autonomy, safeguarding state budget capital and developing funding sources. When establishing the fund, the interest rate was 4.9% per year. The provincial environmental protection fund regularly adjusts the preferential interest rates to be suitable for the actual situation. Up to now, it has been reduced to 3 levels: 1.5%, 3%, 3.6% per year, in order to create favorable conditions for investors in environmental protection.

The contribution to raising awareness of environment protection

In addition to providing financial support with preferential interest rates, the Provincial Environmental Protection Fund also participates in communication and education activities to raise awareness of the community about the importance of environmental protection. Specifically, the fund regularly coordinates with the fatherland front agencies, Youth Union, Women's Union, Department of Natural Resources and Environment of districts and cities, and the Global Environment Fund to sponsor environmental protection activities. In order to raise awareness of environmental protection among the people and the community, specific activities such as waste collection and classification at the source, exchanging waste for gifts, cleaning the neighborhood, providing trash bins for residential areas and green hostels, and transforming landfills into flower gardens.

According to Ms. Dinh Sao Mai, the Provincial Environmental Protection Fund operates with the goal of arranging funding support and encouraging organizations, businesses, and individuals in the province to borrow money at preferential interest rates to invest in environmental protection projects and works. The Fund operates not for profit, ensuring autonomy, capital preservation, and development. The Provincial Environmental Protection Fund is an important economic tool that contributes to improving the effectiveness of environmental protection work in the province.

According to Mrs. Dinh Sao Mai, the Provincial Environmental Protection Fund operates with the goal of arranging funding support and encouraging organizations, businesses, and individuals in the province to borrow capital at preferential interest rates to invest in environmental protection projects and works. The Fund operates not for profit, ensuring autonomy, capital preservation, and development. The Provincial Environmental Protection Fund is an important economic tool that contributes to improving the effectiveness of environmental protection in the province.

The project to build a wastewater treatment system with a capacity of 3,500 cubic meters per day/night for Binh Minh Paper Packaging Manufacturing Co. Ltd. is supported by a preferential loan fund of 18 billion VND.

In the coming time, the provincial Environmental Protection Fund will continue to promote the activities of the fund to the financially supported entities in environmental protection work. In addition, the fund focuses on administrative reform and digital transformation to create more favorable conditions for the beneficiaries of preferential loans, reducing the time for dossier appraisal.

Reported Tien Hanh – Vo Tuyen – Translated by Vi Bao