SECTION 4. Purposes and Powers. — The Corporation is hereby vested with the following purposes and powers:
a) To help, promote, develop and diversify exports, particularly non-traditional products and services by providing adequate financial and technical assistance in project promotion and execution.
b) Without completing or supplanting but rather supplementing and complementing the pending operations of existing credit institutions, to provide financial assistance to producers and exporters of the Philippine products with high priority, especially the small and medium-scale industries which cannot meet the collateral requirements of lending institutions and to this end, engage in:
1) Providing refinancing facilities to commercial banks against export bills and other documents related primarily with exports of Philippines products and services;
2) Discounting bills of other instruments representing the credits that such producers and exporters grant to foreign buyers;
3) Endorsing export credit instruments, and, in general guaranteeing export credit;
4) Granting credits for export promotion activities designed to open up new foreign markets and consolidating and expanding existing ones;
5) Making advances for the payment of freight, insurance, customs duties, storage fees, bidding and bonding fees and other charges on export goods and services;
6) Providing credit for the production of export goods in fulfillment of orders or contracts;
7) Buying, endorsing, selling and discounting export bills and other documents issued in connection with export transactions;
8) Serving as intermediary, agent or broker for export credits granted by international or regional financial institutions;
9) Financing other activities that may be necessary for the promotion, development and diversification of export products and services;
10) Lending money against personal security or against securities consisting of persons and real properties; and
11) Conducting all activities necessary to insure that producers, exporters and service contractors are adequately provided with comparable credit facilities available to foreign competitors.
c) To provide technical assistance to producers and exporters through acceleration and development of export-oriented projects and project promotion and execution;
d) To search for areas where contribution of finance or effort is of catalytic importance;
e) To borrow, raise, or obtain funds to support or carry out its objects and purposes and/or to arrange financing or equipment credit or any kind of financial technical assistance for its own account or for the producers, exporters, service contractors from private or governmental sources or from international lending institutions and to secure any or all of the same, to the extent that may be required, by any lawful guaranteed or counter-guarantee, by pledge, mortgage or deed of trust, or by creating or suffering to exist a charge or encumbrance, general or special, upon its revenue and/or assets, and likewise, by similar guarantees, pledges, mortgages, liens and other security arrangements to secure the performance by the Corporation of any obligation or liability it may undertake for itself or for the producers, exporters and service contractors;
f) To acquire by purchase, subscription, exchange, assignment, give or otherwise, and to sell, assign, transfer, exchange, mortgage, pledge, and deal in and otherwise to enjoy and dispose of, any bonds, debenture, promissory notes, shares of capital stock and/or other securities and/or obligation, created, negotiated or issued by any corporation, or other entity foreign or domestic, and while the owner thereof, to exercise all the rights, powers and privileges of ownership, including the right to receive, collect and dispose of, any and all dividends, interest and income derived therefrom, and the right to vote on any shares of the capital stock, and upon bonds, debentures and/or other securities, having voting power so owned;
g) To invest and deal with the funds of the Corporation in such manner as may be deemed necessary and proper to attain the objectives and purposes for which the Corporation has been organized;
h) To sue and be sued;
i) To purchase, hold convey, sell, lease, let, mortgage, encumber and otherwise deal with such real and personal property as the purpose of the Corporation may require;
j) To establish and operate branches of offices in the Philippines or abroad for the transaction of business for itself, or in behalf of producers, exporters, and service contractors; and
k) To do all such other things and to transact all business as may be directly or indirectly incidental or conducive to the attainment of the above objectives.
