Home›Statutes›Administrative Orders›Administrative Order No. 162
Administrative Order No. 162
ADMINISTRATIVE ORDER NO. 162 DIRECTING THE LAND BANK OF THE PHILIPPINES (LBP) TO INCREASE ITS LOANS/FINANCIAL ASSISTANCE TO SMALL FARMERS AND ENHANCE ITS INSTITUTIONAL TRAINING PROGRAMS OF FARMERS COOPERATIVES, AS A SAFETY NET MEASURE FOR THE IMPLEMENTATION OF THE GATT-UR
SECTION 1. The LBP shall further increase its loans/financial assistance to farmers and enhance its institutional training programs of farmers’ cooperatives, as a safety net measure for the implementation of the GATT-UR, under such terms and conditions as are consistent with LBP’s viability.
SEC. 2. To enable LBP to attain the above objectives and to strengthen its financial capability to sustain its on-going agrarian related and development programs, LBP shall be: (1) Provided with low-cost revolving funds from the GATT-support funds which may be available under the General Appropriations Act for on-lending to the agricultural sector and to improve its funds mix; (2) Exempted from any requirement of any governmental agency to rechannel its investable funds and deposits to the Bureau of Treasury and the Bangko Sentral ng Pilipinas.
SEC. 3. This Administrative Order shall take effect immediately. DONE in the City of Manila, this 7th day of December, 1994. (Sgd.) FIDEL V. RAMOS President of the Philippines By the President: (Sgd.) LEONARDO A. QUISUMBING Acting Executive Secretary