Loans.
Section 10
SEC. 10. Loans. – The Corporation is hereby authorized to contract loans, credits, in any convertible foreign currency, and incur indebtedness from time to time from foreign governments or any international financial institutions or fund sources, or any other entities, on such terms and conditions it shall deem appropriate for the accomplishment: of its purposes and to enter into and execute agreements and other documents specifying such terms and conditions. The Republic of the Philippines, through the President of the Philippines or his duly authorized representative, may guarantee, absolutely and unconditionally, as primary obligor and not as surety merely, the payment of the loans, credits and indebtedness issued up to the amount herein authorized, which may be over and above the amount which the President of the Philippines is authorized to guarantee under the republic Act Numbered sixty-one hundred forty-two, as amended, as well as the performance of all or any of the obligations undertaken by the Corporation in the territory of the Republic of the Philippines pursuant to loan agreements entered into with foreign governments or any international financial institutions of fund source.