WHEREAS, in the spirit of further promoting the ties of Friendship and mutual understanding between the Republic of the Philippines and the Republic of Indonesia;
WHEREAS, on 29 July 1971 and Agreement was concluded between the Republic of the Philippines and the Republic of Indonesia for the settlement of certain claims in the amount of US$800,000;
WHEREAS, the Philippine National Bank has agreed to provide $400,000 in partial settlement of the claims;
WHEREAS, it is necessary that the balance of $400,000 must be provided to fully settle these claims;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines, and pursuant to Proclamation No. 1081 dated September 21, 1972, and General Order No. 1 dated September 22, 1972, as amended do, hereby appropriate the peso equivalent of $400,000 out of any fund in the National Treasury not otherwise appropriated to carry out the purpose of this Decree, Provided, That this appropriation shall be available for the payment of commodities for export to Indonesia in accordance with the above-mentioned Agreement.
The Philippine National Bank is hereby entrusted with the disbursement of the amount herein appropriated subject to the usual auditing regulations.
This Decree shall become effective immediately upon its promulgation.
Done in the City of Manila, this 6th day of May, in the year of Our Lord, nineteen hundred and seventy-three.
(Sgd.) FERDINAND E. MARCOS
President
Republic of the Philippines
By the President:
(Sgd.) ROBERTO V. REYES
Assistant Executive Secretary