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PHILIPPINE LAWS, STATUTES & CODES
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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 85 -
DESIGNATING THE TRADE AND INVESTMENT DEVELOPMENT CORPORATION OF THE
PHILIPPINES (“TIDCORP”) AS THE PHILIPPINE EXPORT-IMPORT CREDIT AGENCY
(“PHIIM”) AND FOR OTHER PURPOSES
WHEREAS,
TRADE AND INVESTMENT DEVELOPMENT CORPORATION OF THE PHILIPPINES
(“TIDCORP”) is a government owned and controlled corporation created by
virtue of Presidential Decree No. 1080, as amended by Republic Act No.
8494;
WHEREAS, TIDCORP was created to pursue the policy of the State to
encourage and promote the expansion of Philippine exports and to
establish a strong and credible export credit institution which shall
be dedicated to the provision of export financing facilities and
services to support the country’s export sector;
WHEREAS, pursuant to its legal mandate, and conformably to the
above-described policy of the State, TIDCORP has engaged in and
offered, among others, the following services to both government-owned
and private owned corporations:
a.
b.
c.
d.
WHEREAS, TIDCORP is already functionally an export-import credit agency;
WHEREAS, there is a distinct. need to designate TIDCORP as the export-import credit agency to strengthen its role in the development and expansion of international trade as well as to effectively respond to the economic requirements of the country;
NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the Philippines, by virtue of the powers vested in me by law, do hereby order:
Section 1.
Sec. 2.
Sec. 3.
Done in the City of Manila,
this 15th day of March, in the year of Our Lord, Two Thousand and Two.
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