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[ MEMORANDUM CIRCULAR NO. 60, May 19, 2004 ]

DIRECTING ALL AGENCIES OF THE GOVERNMENT TO ADOPT AND OBSERVE THE GUIDELINE FOR PROJECT LOAN NEGOTIATIONS AND PACKAGING OF GOVERNMENT FOREIGN-ASSISTED INFRASTRUCTURE PROJECTS PRESCRIBED UNDER EXECUTIVE ORDER NO. 278 DATED FEBRUARY 2, 2004 AND ITS IMPLEMENTING RULES AND REGULATIONS

WHEREAS, by virtue of Executive Order no. 278 dated February 2, 2004, guidelines for the preparation and packaging of projects/contracts and the negotiation of loans for government foreign-assisted infrastructure projects were prescribed;

WHEREAS, these guidelines are intended to provide Filipino constructor and consultants with better market opportunities and allow them to upgrade their capabilities and complete internationally;

WHEREAS, the National Economic and Development Authority Infrastructure Committee has promulgated the Implementing rules and Regulations for Executive Order No. 278.

NOW, THEREFORE, I, ALBERTO G. ROMULO, executive Secretary by order of Her Excellency, PRESIDENT GLORIA MACAPAGAL-ARROYO, hereby direct all agencies f the government to adopt and observe the guidelines for project loans negotiations and packaging of government foreign-assisted infrastructure projects prescribed under Executive Order No. 278 dated February 2, 2004 and its Implementing Rules and Regulations.

For strict compliance. City of Manila, 19 May 2004.

By the Executive Secretary

(SGD.) JOAQUIN C. LAGONERA
Senior Deputy Executive Secretary