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PRESIDENTIAL DECREE NO. 660
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PRESIDENTIAL DECREE NO. 660 -
ADDITIONAL SUBSCRIPTION OF THE PHILIPPINES TO THE CAPITAL STOCK OF THE
INTERNATIONAL DEVELOPMENT ASSOCIATION (IDA) AND APPROPRIATING FUNDS
THEREFOR
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WHEREAS,
the International Development Association through the Board of
Governors has decided to augment the financial resources of the
International Development Association through a Fourth Replenishment
Program;chanroblesvirtualawlibrary
WHEREAS, there is now a call for member countries to participate in the
Fourth Replenishment Program of the International Development
Association; chanroblesvirtualawlibrary
WHEREAS, the Philippines has benefited from the resources of the
International Development Association, being a recipient of development
credits in the aggregate amount of $32.2 million for the various
development projects of the Government;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, do hereby
order and decree that the peso equivalent of United States $71,698.72
be appropriated out of the funds not otherwise appropriated in the
National Treasury for the purpose of paying the additional subscription
of the Philippines to the capital stock of the International
Development Association under its Fourth Replenishment Program.
This Decree shall take effect immediately.
DONE in the City of Manila,
this 21st day of February, in the year of Our Lord, nineteen hundred
and seventy-five.
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