Expanded Coverage of and Increased Loanable Fund Set Aside Under LOI 874
Letter of Instructions No. 1145

May 25, 1981


TO : President, Philippine National Bank
President, Land Bank of the Philippines
Administrator, National Food Authority
All Concerned
SUBJECT : Expanding the Coverage and Increasing the Loanable Fund Set Aside Under LOI 874 and for Other Purposes

WHEREAS, the Philippine National Bank was directed under

WHEREAS, Grains retailers have subsequently organized themselves under the Confederation of Grains Retailers Association of the Philippines, a separate aggrupation exclusively for grains retailers;

WHEREAS, retailers of other basic food commodities are likewise in urgent need of financial assistance to enable them to be more viable and competitive as a vital component of the food industry; cd i

WHEREAS, the country's bakers are also in need of a financial package for purposes of augmenting their operating capital and modernizing their baking equipment/facilities;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the

1. That the Philippine National Bank shall increase the present loanable fund of P10 million set aside under cd

2. That the Land Bank of the Philippines shall likewise set aside the sum of P25 million for the same purpose.

All provisions of laws, orders and letters of instructions inconsistent with this Letter of Instructions are hereby repealed and/or modified accordingly.

These instructions shall take effect immediately.

DONE in the City of Manila, on this 25th day of May, in the year of Our Lord, Nineteen Hundred and Eighty One. cdtai