Section 1
SECTION 1. A new section to be known as Section 4─B is hereby inserted between Section 4-A and Section 5 of Republic Act Four Thousand Eight Hundred Sixty, as amended, which shall read as follows: "SECTION 4-B. The President may, upon recommendation of the Minister of Finance in consultation with the National Economic and Development Authority, agree to a provision in a loan agreement or contract for the availment or utilization of the proceeds of foreign loans or credits concluded with a foreign government or with an international lending institution owned by a foreign government pursuant to the provisions of this Act, exempting the assets of such foreign government or lending institution in the Philippines from expropriation, sequestration, nationalization, seizure or similar measures."