Government Financial Institutions Guarantees.
Section 12
SECTION 12. Government Financial Institutions Guarantees. — The provision of any law to the contrary notwithstanding, and financial institution owned or controlled by the Government of the Republic of the Philippines with the exception of the Central Bank of the Philippines, Government Service Insurance System and the Social Security System, is hereby empowered to guarantee acceptance credits, loans, transactions, undertakings, or obligations of any kind which may be incurred by the Corporation, whether directly or indirectly in favor of any person, association or entity, whether domestic or foreign.