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A
collection of Philippine laws, statutes and codes
not
included or cited in the
main indices
of
the Chan Robles Virtual Law Library.
This page features the full text of
Republic Act No. 8555.
REPUBLIC
ACT NO. 8555
AN ACT
AMENDING REPUBLIC
ACT NO. 8182,
AND FOR
OTHER PURPOSES.
Section 1. Republic Act No.
8182 is hereby amended to include a new Sec. 11-A to read as follows:
"Sec. 11-A.
In the
contracting
of any loan, credit or indebtedness under this Act or any law, the
President
of the Philippines may, when necessary, agree to waive or modify the
application
of any provision of law granting preferences in connection with, or
imposing
restrictions on, the procurement of goods or services: Provided,
however,
That as far as practicable, utilization of the services of qualified
Filipino
citizens or corporations or associations owned by such citizens in the
prosecution of projects financed under this Act shall be prepared on
the
basis of the standards set for a particular project: Provided,
further,
That the matter of preference in favor of articles, materials, or
supplies
of the growth, production or manufacture of the Philippines, including
the method or procedure in the comparison of bids for purposes
therefor,
shall be the subject of agreement between the Philippine Government and
the lending institution."
Sec. 2. Sec. 4 of Republic
Act No. 8182 is hereby amended to read as follows:
"Sec. 4. Use
of ODA
for
equitable development. — The proceeds of ODA shall be used to
achieve
equitable growth and development in all provinces through priority
development
projects for the improvement of economic and social service facilities
taking into account such factors as land area, population, scarcity of
resources, low literacy rate, infant mortality and poverty incidence in
the area: Provided, That rural infrastructure, countryside
development
and economic zones established under the PEZA law shall be given
preference
in the utilization of ODA funds. Towards this end, the National
Economic
and Development Authority (NEDA) shall endeavor to obtain ODA funds
from
donor countries, which shall approximately be five percent (5%) of the
total ODA loan from the immediately preceding year. Said funds shall be
administered by the NEDA for project identification, feasibility
studies,
master planning at local and regional levels, and monitoring and
evaluation: Provided, further, That ODA shall not be availed of
or
utilized
directly or indirectly for the following:
"(a)
Telephone
programs
contracted as of 1 January 1996 except basic telephone programs and
projects
for rural areas not adequately serviced and/or currently developed by
private
enterprises shall be entitled to ODA loan availments;
"(b) Projects
mandated
primarily
by law to be served by the private sector; and
"(c) Financing for
private
corporations with access to commercial credit.
"The NEDA
shall ensure
that
the ODA obtained shall be for previously identified national priority
projects
which are urgent or necessary. ODA shall not be accepted or utilized
solely
because of its availability, convenience, or accessibility."
Sec. 3. Effectivity.
— This Act shall take effect after five (5) days from its publication
in
the Official Gazette or in at least two (2) national newspapers of
general
circulation whichever date comes first.
Approved:
February 26, 1998
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