Additional Subscription of the Philippines to Capital Stock of International Development Association
Presidential Decree No. 660, issued on February 21, 1975, authorizes the Philippine government to increase its subscription to the capital stock of the International Development Association (IDA) as part of its Fourth Replenishment Program. This decision follows the acknowledgment of the benefits the Philippines has received from IDA, amounting to $32.2 million for various development projects. The decree appropriates the peso equivalent of $71,698.72 from the National Treasury for this purpose. It takes effect immediately.
Law Information
- Reference Number
- Presidential Decree No. 660
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Presidential Decrees
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
February 21, 1975
PRESIDENTIAL DECREE NO. 660
ADDITIONAL SUBSCRIPTION OF THE PHILIPPINES TO THE CAPITAL STOCK OF THE INTERNATIONAL DEVELOPMENT ASSOCIATION (IDA) AND APPROPRIATING FUNDS THEREFOR
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; aisa dc
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.
Cite This Law
Additional Subscription of the Philippines to Capital Stock of International Development Association, Presidential Decree No. 660, Feb 21, 1975 (Philippines)
Additional Subscription of the Philippines to Capital Stock of International Development Association, Presidential Decree No. 660 (Phil. 1975)
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- Appropriating Funds for the Payment of Remaining Balance of Unpaid Government Subscription to Capital Stock of the Development Bank of the PhilippinesPresidential Decree No. 811 • Oct 17, 1975 • Presidential Issuances
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