Executive Committee of Local Development Council as the Local Countrywide Industrialization Board.
Section 6
SEC. 6. Executive Committee of Local Development Council as the Local Countrywide Industrialization Board. - The Executive Committee of the municipal, city and provincial development councils shall serve as the Local Countrywide Industrialization Board (LCIB) which shall be directed towards the development of technology and skills, assist all enterprises in the utilization of indigenous raw materials for livelihood programs and in the delivery of credit organizations and marketing services. In addition to the functions of the local development councils as mandated in the Local Government Code of 1991 (Republic Act No. 7160), they shall perform the following functions: receive all applications for countrywide industrialization projects within its area of jurisdiction; evaluate and approve or disapprove all project applications within thirty (30) days from receipt thereof; and endorse projects to the Countrywide Industrialization Office (CIO) for funding; in coordination with the conduit banks, monitor the status of approved projects, help enterprises obtain marketing, technical training and other forms of nonfinancial assistance as they may require from agencies of the national and local governments; review the industrialization plan for the province, city or municipality as prepared by the municipal, city or provincial development officer if the funding required for the proposed project is to be sourced from CIF; disseminate pertinent information; and submit quarterly reports to the CIO on the amounts of financial assistance received by the countrywide industrialization projects within its jurisdiction, and a status report on each countrywide industrialization project. Copy of the report shall be furnished the sangguniang bayan or sangguniang panlungsod concerned.