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TO:	Ministry of Agriculture Ministry of the Budget Central Bank of the Philippines Philippine National Bank Presidential Committee on Agricultural Credit

IMPLEMENTING MAISAGANA, THE NATIONAL CORN AND PRODUCTION PROGRAM

WHEREAS, corn is the major source of income and employment of over one million Filipino farmers, the majority of whom are very poor;

WHEREAS, corn is the staple food of about 20% of the Filipino population and is the major ingredient in the formulation of animal feeds;

WHEREAS, national corn production has suffered from the absence of a complete package of technology so that demand has not been met by local supply;

WHEREAS, complete packages of technology for the cultivation of high yielding varieties and hybrids of corn and the projection of corn crops from downy mildew infestation has been developed locally;

WHEREAS, credit for "Maisagana" is critical for the success of the program.

WHEREAS, the Philippine National Bank is the leading financing institution of the National Government's food priority programs;

WHEREAS, the accelerated production of white and yellow corn using the new technology could bring the country to self-sufficiency in two years;

WHEREAS, the surplus production possible with the use of the new technology can be steady earner of additional foreign exchange for the country;

WHEREAS, increased resources must be harnessed and higher priority given to corn and feedgrains production with the participation of all agencies and sectors concerned;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in by law, do hereby order the following:

SECTION 1.  The Ministry of the Budget is instructed to allocate the amount of Ten Million Pesos (P10,000,000.00) in 1982 for Maisagana's information and extension  requirements.  This amount shall be drawn from the proceeds of the RP-Japan Food Production Program.  The Ministry of Agriculture is authorized to draw from the proceeds of the HP-Japan Food Production Program such funds as may be required for Maisagana, Masagana 99 and other such national food and agriculture priority programs as may be determined by the Ministry of Agriculture.

SECTION 2. The Ministry of the Budget is hereby ordered to release an initial equity contribution of One Hundred Million Pesos (P100,000,000.00) to the Philippine National Bank (PNB) for the second and third years of the Program shall be determined by the Presidential Committee on Agricultural Credit together with the Ministry of the Budget to ensure the continuous participation of the PNB in Maisagana.

SECTION 3. The Presidential Committee on Agricultural Credit shall undertake a comprehensive review of the preferential credit programs and recommend measures to streamline the credit infrastructure for food and agriculture.

DONE in the City of Manila, this 16th day of December, in the Year of Our Lord, Nineteen Hundred and Eighty-One