Land Bank of the Philippines

December 11, 1997 FIRB RESOLUTION NO. 038-97 SUBJECT : Land Bank of the Philippines BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to approve the application for tax subsidy in the amount of P322,561.00 only, of the Land Bank of the Philippines, to cover taxes and duties due on its importation of breeding equipment and bovine frozen semen in connection with the grant under the 1996 RP-France Financial Protocol for LBP's "Cattle Production through Artificial Insemination Project"; Provided , That such availment shall be in accordance with the terms and conditions of Section 13 of 1997 General Appropriations Act, subject to the availability of funds therefor, pursuant to the terms and conditions of the Rules and Regulations to Implement the Subsidy Provision under Executive Order No. 93. (SGD.) MA. CECILIA G. SORIANO Undersecretary of Finance Presiding Officer FIRB Reference: FIRB Technical Committee Meeting dated November 28, 1997 FIRB Meeting dated December 11, 1997 FIRB Resolution No. Amount 27-97 (denial) - 38-97 (new) P322,561.00 Total P322,561.00