WHEREAS, there is need to avoid disruption of activities relating to the programming, project preparation and utilization of ESF proceeds;

WHEREAS, there are prospects of increased economic assistance to the Philippine Government from the U.S. Government;

WHEREAS, the National Economic Development Authority has been coordinating the programming of official development assistance (ODA) from foreign sources except the Economic Support Fund (ESF) which is being coordinated by a Council headed by the Minister of Human Settlements and Supported by the Secretariat under the Office of the President;

WHEREAS, there is a need to consolidated official development assistance coordination function into one governmental organization;

NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Republic of the Philippines, do hereby order and direct the following:

SECTION 1. The Economic Support Fund Council created under LOI 1031 as amended by LOI 1434 is hereby abolished.

SECTION 2. The powers, functions and duties of the Economic Support Fund Council is herein transferred to the National and Development Authority. Subject to the Approval of the President, the NEDA shall formulate policies on the uses of the Economic Support Fund for the implementation and execution by the Economic Support Fund Seceratriat.

SECTION 3. The Economic Support Fund Secretariat created under LOI 1030 as amended by LOI 1434 is hereby retained as the fund funding and implementing agency under the control of the Office of the President to execute programs and projects financed by the Economic Support Fund.

SECTION 4. The Notional Economic and Development Authority, in coordination with the Economic Support Fund Secretariat shall represent the Philippine Government in dealing with the United States Agency for International Development (USAID) or any instrumentalities of the United States Government duly authorized to handle Economic Support Fund issues.

SECTION 5. This Executive Order shall take effect immediately.

DONE in the City of Manila, this 8th day of May, in the year of Our Lord, nineteen hundred and eighty-six.



By the President:

(Sgd.) JOKER P. ARROYO
Executive Secretary