Inclusion of Land Bank of the Philippines as One of the Founding Institutions of the Development Academy of the Philippines

December 9, 1976

LETTER OF INSTRUCTIONS NO. 486

TO :   The President

WHEREAS, the development capability of the Development Academy of the Philippines will be greatly enhanced by the inclusion of the Land Bank as one of its founding institutions;

WHEREAS, the present financial requirements of the Academy strongly indicate the need for the immediate membership and participation of the Land Bank in the management and policy direction of the Academy; cdt

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, hereby direct the Land Bank of the Philippines to collaborate with the Development Bank of the Philippines, the Central Bank of the Philippines, the National Economic Development Authority, the Government Service Insurance System, the Social Security System and the Philippine National Bank and participate in the governance and policy direction of the Development Academy of the Philippines as a member of its Board of Trustees and to support its programs by making financial and other contributions, to its operations in the same amounts and under the same conditions as the above-enumerated founding institutions of the Academy, effective fiscal year 1977. acd

DONE in the City of Manila, this 9th day of December, in the year of Our Lord, Nineteen Hundred and Seventy-Six.