WHEREAS, the Philippine government desires to avail of loan assistance from the Agency for International Development (AID) for certain vital economic projects;

WHEREAS, it is necessary to create various committees to work with the AID and other American officials on the justifications of these vital projects;

NOW, THEREFIRE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by law, do hereby create the following Committees to be composed of members hereunder indicated;

A. Committee on Irrigation Projects

1 Representative from the National Irrigation Administration	Chairman
2 Representatives from Presidential Economic Staff	Member
1 Representative from National Economic Council	Member

B. Committee on Program Loans

1 Representative from Presidential Economic Staff	Chairman
1 Representative from Presidential Economic Staff	Member
1 Representative from Central Bank	Member

C. Committee on Farm Credit

1 Representative from Presidential Economic Staff	Chairman
1 Representative from Central Bank	Member
1 Representative from Agricultural Credit Administration	Member
1 Representative from University of the Philippines	Member

D. Committee on Land Bank

1 Representative from Land Bank	Chairman
1 Representative from Presidential Economic Staff	Member
1 Representative from National Economic Council	Member

E. Committee on Machinery Pool

1 Representative from Rice & Corn Production Coordinating Council	Chairman
1 Representative from Presidential Economic Staff	Member
1 Representative from Development Bank of the Philippines	Member
1 Representative from Central Bank	Member

F. Committee on Balance of Payment and Budget

1 Representative from Central Bank	Chairman
2 Representatives from Presidential Economic Staff	Members
1 Representative from Budget Commission	Member

The Presidential Economic Staff shall be responsible for the coordination and control of these various committees.

The Committee Chairman of each group is hereby authorized to call upon any department, bureau, office, agency or instrumentality of the Government, including government-owned or controlled corporations for such assistance as it may need.

The Presidential Economic Staff through the Committees herein mentioned shall prepare proposals for such projects as the Land Bank, Agricultural Machinery Pool and Program Loans, provided that the PES staff members shall work closely with AID in the preparation of the Irrigation and Farm Credit project proposals.

Done in the City of Manila, this 15th day of August, in the year of Our Lord, nineteen hundred and sixty-six.


By the President:
(SGD.) RAFAEL M. SALAS
Executive Secretary