April 23, 1979

LETTER OF INSTRUCTIONS NO. 849

TO : The Minister of the Budget

Pursuant to the covenants entered into by the Philippine Government with the International Bank for Reconstruction and Development (IBRD) under the Second Philippine Sites and Services Slum Improvement Project Loan, the Ministry of the Budget is hereby instructed to provide fund requirements of the said project amounting to P495 million for the Ministry of Human Settlements. These fund requirements shall be charged against applicable existing appropriation authorities of public works appropriation acts; Special Activities Fund of the President; any lump sum funds for foreign-assisted projects; in the annual appropriation authorization of involved implementing agencies or from any other funds of the National Treasury not otherwise appropriated whichever will be deemed proper by the Minister of the Budget, Provided, however, That the amount of P72 million representing 1979 counterpart fund shall be released to the Ministry of Human Settlements beginning Second quarter of 1979.

For immediate compliance. casia

April 23, 1979