EXECUTIVE ORDER NO. 327 June 9, 1988
IMPLEMENTING CERTAIN PROVISIONS OF EXECUTIVE ORDERS NOS. 714 SERIES OF 1981, 238 SERIES OF 1987 AND 314 SERIES OF 1987 AND FOR OTHER PURPOSES
WHEREAS, all KKK Capital Funds/National Livelihood Support Funds and its earnings were placed and consolidated under the control and supervision of the Office of the President pursuant to Executive Order Nos. 715 and 38;
WHEREAS, the President conscious of the need to address the livelihood concerns of the country issued Executive Order No. 314 creating and constituting the BKKK Committee to formulate basic policies for the Bagong Kilusang Kabuhayan at Kaunlaran, to redirect and refocus its thrusts and objectives in line with the aims of the present administration;
WHEREAS, the BKKK Committee recognizes the urgent need to address immediately the Presidential directions and priorities in the delivery of livelihood opportunities and services to the unserved and unattended disadvantaged sectors of society;
WHEREAS, the government has enormous financial exposure that requires immediate recovery to be made available for the delivery...
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Executive Orders
Implementing Certain Provisions of Executive Orders Nos. 714 Series of 1981, 238 Series of 1987 and 314 Series of 1987 and For Other Purposes
Executive Order No. 327
Summary of Executive Order No. 327
Utilization of KKK Capital Funds/National Livelihood Support Funds and Earnings
• All incomes of the KKK Capital Funds/National Livelihood Support Funds shall be maintained in an account of the BKKK-Office of the President with the designated Trustee Bank(s). (Sec. 1)
• The funds shall be utilized for the promotion, generation, and development of livelihood opportunities. (Sec. 2A.2)
• The funds shall be made available for livelihood programs/projects of government agencies, private volunteer organizations (PVOs), or non-government organizations (NGOs). (Sec. 2A.3)
• The BKKK Secretariat shall "wholesale" the funds or complement them with other resources to the Program Participants (government offices, PVOs, NGOs) who shall "retail" the funds and administer the livelihood programs/projects. (Sec. 2A.4)
• The BKKK Secretariat shall evaluate and monitor the livelihood programs/projects of the Program Participants. (Sec. 2A.5)
• Interest charges on released funds to the Program Participants shall not exceed 12% per annum. (Sec. 2A.6)
Fund Release and Repayments
• The Trustee Bank or designated bank shall release the funds directly to the Program Participant upon receipt of the program action sheet and other pertinent documents from the BKKK Committee. (Sec. 2B.1)
• The Program Participant shall open an account with the designated bank where the loan proceeds shall be deposited and maintained. (Sec. 2B.2)
• The Program Participant is responsible for collecting amortizations and remitting them to the designated bank for the account of BKKK. (Sec. 2C.1)
• The maturity period of the fund released to the Program Participant shall not exceed 5 years. (Sec. 2C.2)
• A grace period of not more than 1 year for principal payment shall be allowed from drawdown date. (Sec. 2C.3)
• Default instances are defined, including non-payment of loan amortizations and mismanagement by the Program Participant. (Sec. 2C.4)
• A notice of loan arrearage shall be sent by the BKKK to the Program Participant upon default. (Sec. 2C.5)
• The Program Participant may apply for loan restructuring in case of force majeure or fortuitous events affecting the project site, provided the incidents are reported within 15 days. (Sec. 2D)
Utilization and Disbursement of Fund Earnings
• All interest accruing to the capital funds or income from its use shall be known as earnings. (Sec. 3)
• The earnings shall be utilized and disbursed in accordance with Executive Order No. 715 and this Executive Order, subject to the approval of the BKKK Committee. (Sec. 3)
BKKK Organizations
• The BKKK Committee, created by Executive Order No. 314, is composed of specified government officials and shall oversee the consolidation of KKK Capital Funds/National Livelihood Support Fund and the collection of outstanding accounts. (Sec. 4.1, 4.2)
• A BKKK Executive Committee is created to review and recommend general policies and guidelines for BKKK operations. (Sec. 4E)
• The BKKK Secretariat, attached to the Presidential Management Staff, is responsible for implementing the objectives of BKKK, consolidating the funds, collecting outstanding loans, conceptualizing and monitoring BKKK programs/projects. (Sec. 4F)
Utilization of KKK Capital Funds/National Livelihood Support Funds and Earnings
• All incomes of the KKK Capital Funds/National Livelihood Support Funds shall be maintained in an account of the BKKK-Office of the President with the designated Trustee Bank(s). (Sec. 1)
• The funds shall be utilized for the promotion, generation, and development of livelihood opportunities. (Sec. 2A.2)
• The funds shall be made available for livelihood programs/projects of government agencies, private volunteer organizations (PVOs), or non-government organizations (NGOs). (Sec. 2A.3)
• The BKKK Secretariat shall "wholesale" the funds or complement them with other resources to the Program Participants (government offices, PVOs, NGOs) who shall "retail" the funds and administer the livelihood programs/projects. (Sec. 2A.4)
• The BKKK Secretariat shall evaluate and monitor the livelihood programs/projects of the Program Participants. (Sec. 2A.5)
• Interest charges on released funds to the Program Participants shall not exceed 12% per annum. (Sec. 2A.6)
Fund Release and Repayments
• The Trustee Bank or designated bank shall release the funds directly to the Program Participant upon receipt of the program action sheet and other pertinent documents from the BKKK Committee. (Sec. 2B.1)
• The Program Participant shall open an account with the designated bank where the loan proceeds shall be deposited and maintained. (Sec. 2B.2)
• The Program Participant is responsible for collecting amortizations and remitting them to the designated bank for the account of BKKK. (Sec. 2C.1)
• The maturity period of the fund released to the Program Participant shall not exceed 5 years. (Sec. 2C.2)
• A grace period of not more than 1 year for principal payment shall be allowed from drawdown date. (Sec. 2C.3)
• Default instances are defined, including non-payment of loan amortizations and mismanagement by the Program Participant. (Sec. 2C.4)
• A notice of loan arrearage shall be sent by the BKKK to the Program Participant upon default. (Sec. 2C.5)
• The Program Participant may apply for loan restructuring in case of force majeure or fortuitous events affecting the project site, provided the incidents are reported within 15 days. (Sec. 2D)
Utilization and Disbursement of Fund Earnings
• All interest accruing to the capital funds or income from its use shall be known as earnings. (Sec. 3)
• The earnings shall be utilized and disbursed in accordance with Executive Order No. 715 and this Executive Order, subject to the approval of the BKKK Committee. (Sec. 3)
BKKK Organizations
• The BKKK Committee, created by Executive Order No. 314, is composed of specified government officials and shall oversee the consolidation of KKK Capital Funds/National Livelihood Support Fund and the collection of outstanding accounts. (Sec. 4.1, 4.2)
• A BKKK Executive Committee is created to review and recommend general policies and guidelines for BKKK operations. (Sec. 4E)
• The BKKK Secretariat, attached to the Presidential Management Staff, is responsible for implementing the objectives of BKKK, consolidating the funds, collecting outstanding loans, conceptualizing and monitoring BKKK programs/projects. (Sec. 4F)