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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 1121 -
DIRECTING THE PROVISIONS OF LOW COST CREDIT FACILITIES FOR ENERGY
PROJECTS |
The Minister of Human Settlements
The Minister of Energy
The Administrator, National Electrification
Administration
WHEREAS, the energy program is a vital component of national progress;
WHEREAS, it is necessary for all sectors of the economy to support both energy saving and energy generating activities;
WHEREAS, the larger energy projects require support from major investment and credit sources, but the smaller energy projects can be supported by the banking and financial system;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippine, do hereby Order and Instruct:
1.
The Central Bank of the Philippines shall design a program of
rediscount credit support to private and government banks that lend to
qualified energy projects;
2. The
Ministry of Human Settlements and of Energy and the National
Electrification Administration shall help the Central Bank of the
Philippines in the identification of energy projects deserving of low
cost credit support and otherwise in the formulation of guidelines in
the implementation of this program.
3. Priority
shall be given to mini-hydro plants, dendrothermal plants, solar energy
projects, and other similarly small and self-contained energy projects,
both energy-generating and energy saving.
4. The Central
Bank shall review the credit budget and provide for the energy
rediscounting program provided under this Letter.
Done in the City of Manila, this 23rd day of April, in the year of Our Lord, nineteen hundred and eighty one.
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Since 19.07.98.
