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PHILIPPINE LAWS, STATUTES & CODES
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ADMINISTRATIVE ORDERS
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ADMINISTRATIVE ORDER NO. 162 -
DIRECTING THE LAND BANK OF THE PHILIPPINES (LBP) TO INCREASE ITS
LOANS/FINANCIAL ASSISTANCE TO SMALL FARMERS AND ENHANCE ITS
INSTITUTIONAL TRAINING PROGRAMS OF FARMERS COOPERATIVES, AS A SAFETY
NET MEASURE FOR THE IMPLEMENTATION OF THE GATT-UR
WHEREAS, the LBP is empowered under Sec. 75
of its charter (RA 3844, as amended) to grant loans and other financial
assistance to farmers' cooperatives/associations "to facilitate
production, marketing of crops and acquisition of essential
commodities;"
WHEREAS, as of 1993, total loans/financial assistance extended to
farmers was P9.1B benefitting 886,503 small farmers/fishermen, through
5198 cooperatives and 352 rural financial institutions;
WHEREAS, the LBP also provide institutional training programs to
strengthen the Bank assisted Cooperatives and for CY 1993 it has
facilitated the training of 3,259 cooperatives on basic operations,
management, value formation, bookkeeping, capital build-up, savings
mobilization and entrepreneurship;
WHEREAS, the Senate Committee on the Whole, in one or its public
hearings on the GATT-UR, recommended that LBP should increase its
loans/financial assistance to farmers one of the sectors
identified that will be affected by the implementation of the aforesaid
Agreement;
WHEREAS, there is, indeed, an imperative need for LBP to further
increase its loans/financial assistance to farmers and enhance its
institutional training programs of farmers' cooperatives, as a safety
net measure for the implementation of the aforesaid Agreement;
NOW THEREFORE, I FIDEL V. RAMOS, President of the Republic of the
Philippines, by virtue of the powers vested in me by law, do hereby
order:
Section 1.
Sec. 2.
(1)
(2)
Sec. 3.
DONE in the City of Manila,
this 7th day of December 1994.
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