TO: The Secretary of Education and Culture       The Chairman
Development Bank of the Philippines
In connection with the Engineering Education Project signed between the Asian Development Bank (ADB) and the Philippine Government through a $16.0 Million loan from said Bank, the Development Bank of the Philippines is hereby-authorized to act as Loan Manager for the project, under terms and conditions to be established between the Development Bank of the Philippines as Loan Manager and the Department of Education and Culture through the Educational Development Projects Implementing Task Force (EDPITAF) of the Department of Education and Culture as implementing agency and Principal.

Done in the City of Manila, this 11th day of November, in the year of Our Lord, nineteen hundred and seventy-seven.