PRESIDENTIAL DECREE NO. 660, February 21, 1975
ADDITIONAL SUBSCRIPTION OF THE PHILIPPINES TO THE CAPITAL STOCK OF THE INTERNATIONAL DEVELOPMENT ASSOCIATION (IDA) AND APPROPRIATING FUNDS THEREFOR.
the Board of Governors has decided to augment the financial resources of
the International Development Association through a Fourth
Replenishment Program;
WHEREAS, there is now a call for member countries to
participate in the Fourth Replenishment Program of the International
Development Association;
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;
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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(Sgd.)
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FERDINAND E. MARCOS | |||||||
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President
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| Republic of the Philippines | ||||||||
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By the President: | |||||||
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(Sgd.)
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ALEJANDRO MELCHOR | |||||||
| Executive Secretary | ||||||||