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Eurocurrencies deposited with the Collateral Depository System and administrated by the European energy Fund under the jurisdiction applicable to the Caspian Energy System can be recapitalized by primary energy resources of the Russian Federation.For the purpose of generating the necessary budgets in national currency for such disbursements to be made in Vietnamese Dong for payment of equipment, materials and services produced in Vietnam, the same procedures as for Roubles in Russia can be conducted for Dongs.Monetary Certificates can be issued by the European Energy Funds from Eurocurrencies deposits allocated to the Ministry of Finance ofthe Socialist Republic of Vietnam for the purpose of receiving new currency issues in Dong for the benefit of economic and social development.New currency issues of national Vietnamese currency in the corresponding amounts of the Monetary Certificates issued by the European Energy Fund will be carried out within the fraxnework of a Convention for Operation Account signed with the State Bank of Vietnam.Through such Convention, the Monetary Authority of the Socialist Republic of Vietnam will make available Dongs amounts in accordance with the Monetary Certificates for further management by the branch of the European Energy Fund from its account with the State Bank of Vietnam.Amounts of national currency will be used for funding the contribution of Vietnamese companies involved in development programs required or agreed at the governmental level but also for economic development through assistance to projects from private initiative.The European Energf Fund will propose a funding system based on capital venture using endowment procedures offering to such private initiatives the possibility to start or to develop new activities for the benefit of national economy while securing their financial independence.
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