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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 110 - DIRECTING
THE PEOPLE’S CREDIT AND FINANCE CORPORATION TO ADMINISTER THE PEOPLE’S
DEVELOPMENT TRUST FUND AND FOR OTHER PURPOSES.
WHEREAS,
the People’s Development Trust Fund, hereafter referred to as the PDTE
was established under Republic Act No. 8425, hereafter referred to as
the Social Reform and Poverty Alleviation Act;
WHEREAS, PDTE shall be used for the development of a nationwide network
of viable and sustainable microfinance institutions and
micro-enterprise business development service groups that are able to
deliver effective and efficient microfinance services to the poor and
help them develop enterprises;
WHEREAS, the PDTE shall be used to systematically provide funding for
microfinance and micro-enterprise capability building with parallel
efforts in providing a supportive and appropriate policy environment
and institutional framework for a private-led micro-financial market;
WHEREAS, under the Social Reform and Poverty Alleviation Act, the
President of Philippines shall assign the administration of the PDTF to
any existing government department or agency based on expertise,
organizational capability and orientation or focus;
WHEREAS, the People’s Credit and Finance Corporation, hereafter
referred to as the PCFC is a government-controlled corporation
registered with the Securities and Exchange Commission pursuant to
Administrative Order No. 148 dated September 8, 1994;
WHEREAS, the Social Reform and Poverty Alleviation Act provides that
the PCFC shall be the vehicle for the delivery for the delivery of
microfinance services and the lead government entity specially tasked
to mobilize financial resources from both local and international
funding sources for microfinance services for the exclusive use of the
poor;
WHEREAS, under the Social Reform and Poverty Alleviation Act, the
National Anti-Poverty Commission, hereafter referred to as NAPC, shall
monitor the utilization of the PDTE
Now, Therefore, I, GLORIA MACAPAGAL-ARROYO, President. of the Republic
of the Philippines, by virtue of the powers vested in me by law, do
hereby order;
Section 1.
Sec. 2.
The Corpus of the PDTF is the amount allotted by the Social Reform and
Poverty Alleviation Act for the PDTF, amounting to a total of Four
Billion and Five Hundred Million Pesos (P4,500,000,000.00) over a span
of ten years and other additional amounts provided through voluntary
contributions, grants and gifts from both local and foreign sources, as
may be accepted or decided on by NAPC. Any amount added to the PDTF
shall form part of the Corpus of the PDTF, unless the donor,
contributor or grantor expressly provides as a condition that the
amount be included in the disbursable portion of the PDTF.
The PDTF Income consists of the earnings of the PDTF. The PDTF Income
shall constitute the disbursable portion of the PDTF and shall also
include additional amounts expressly donated, contributed or granted as
part of the disbursable portion of the PDTF. Any undisbursed income for
the preceding year shall form part of the disbursable portion of the
PDTF in the following year.
Sec. 3.
a.
b.
c.
d.
e.
f.
g.
h.
i.
Sec. 4.
a.
b.
c.
As PDTF Administrator, the PCFC shall not qualify as a grantee of the PDTF.
Sec. 5.
The President may, from time to time, require the PCFC to submit
reports on the status of the PDTF, utilizations of the PDTF Income and
other related matters.
Sec. 6.
a.
b.
c.
d.
e.
The Lead Convenor of the NAPC shall, in an ex-officio capacity, shall represent the NAPC, in the Board of Directors of the PCFC.
Sec. 7.
Sec. 8.
Sec. 9.
City of Manila, June 20, 2002.
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