Preamble
WHEREAS, the Executive Directors of the International Bank for Reconstruction and Development have approved, for submission to member governments, the articles of agreement of the proposed International Finance Corporation, appended hereto and made an integral part hereof as Appendix A; WHEREAS, in association with private investors, the proposed International Finance Corporation will assist in financing the establishment, improvement and expansion of productive private enterprises which would contribute to the development of its member countries by making investments, without guarantee of repayment by the member governments concerned, in cases where sufficient private capital is not available on reasonable terms; WHEREAS, it is to the economic interest of the Republic of the Philippines to become a member of the proposed International Finance Corporation: Now, therefore