Vice Chairman of the municipal People’s Committee Do Trung Thoai has been appointed as president of the HEPF Management Council, while the vice president position went to Bui Quang San, director of the Hai Phong Department of Natural Resources and Environment.
The HEPF has a charter capital of VND 30 billion (US$1.41 million) allocated from the State budget within five years.
It is allowed to mobilise sponsorship sources and to be supplemented with environmental protection fees imposed on sewage, solid waste and mineral extraction; compensations for environmental damages; and fines for administrative violations of environmental protection.
The fund also includes deposits by mineral exploitation companies, which will be used to address pollution and recover environmental quality after extraction activities conclude.
The HEPF is authorised to provide preferential loans to organisations operating programmes to restore the environment and preserve natural resources and biodiversity in the locality.
The fund will also review and classify the local environment projects that have demands for its financial support based on necessity, effectiveness, expansion prospect, and payback ability. They are then taken under accounts and the suitable forms of financial assistance are decided.
