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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 75 - DIRECTING
THE RATIONALIZATION OF THE UTILIZATION OF THE NATIONAL LIVELIHOOD
SUPPORT FUND (NLSF) AND PLACING THE FUND AND ITS SECRETARIAT UNDER THE
SUPERVISION OF THE LAND BANK OF THE PHILIPPINES
WHEREAS,
E.O. 238 dated July 22, 1987 directed that the Bagong Kilusang
Kabuhayan sa Kaunlaran (BKKK) Capital Fund and its earnings be utilized
for the promotion, generation and development of livelihood
opportunities;
WHEREAS, Sec. 37 of Republic Act No. 6657 has transferred and
attached to the Land Bank of the Philippines the Bagong Kilusang
Kabuhayan sa Kaunlaran (BKKK) Secretariat and the BKKK Capital
Fund/National Livelihood Support Fund;
WHEREAS, Administrative Order No. 75 dated August 6, 1993
institutionalized the administrative supervision of the Land Bank of
the Philippines over the BKKK Secretariat and the BKKK Capital
Fund/National Livelihood Support Fund through an Executive Committee;
WHEREAS, Republic Act No. 8425 has mandated the People’s Credit and
Finance Corporation (PCFC) to be the main vehicle for the delivery of
microfinance services for the exclusive use of the poor;
WHEREAS, Memorandum Order No. 11 dated August 13, 1998 directed the
Land Bank of the Philippines to invest additional P900 million from the
National Livelihood Support Fund to PCFC;
WHEREAS, Administrative Order No. 45 dated December 22, 1998 abolished
the Executive Committee of the National Livelihood Support Fund;
WHEREAS, the same Administrative Order transformed/renamed the BKKK
Capital Fund into a Trust Fund, otherwise known as Effective Response
to Alleviate Poverty (ERAP) Trust Fund;
WHEREAS, there is an urgent need to rationalize the utilization of the
BKKK Fund in relation to other mandated resources to effectively serve
the needs of the poor, particularly farmers and marginalized members of
the rural communities.
NOW, THEREFORE, I, JOSEPH EJERCITO ESTRADA, President of the Republic
of the Philippines, by virtue of the powers vested in me, do hereby
order:
Section 1.
Sec. 2.
1.
2.
3.
Office
of the President
Department of Agrarian
Reform
Department of Agriculture
Department of Interior and Local Government
Peoples Credit and Finance
Corporation
Farmers Organizations
Labor Sector
Sec. 3.
Sec. 4.
Sec. 5.
Sec. 6.
Sec. 7.
Sec. 8. Since 19.07.98.
DONE in the City of Manila,
this 19th day of February, in the year of Our Lord, Nineteen Hundred
and Ninety-Nine.
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