RESIDENCE OF THE PRESIDENT
OF THE PHILIPINES
BY THE PRESIDENT OF THE PHILIPPINES
PROCLAMATION NO. 343
DECLARING LAST WEEK OF FEBRUARY OF EACH YEAR AS PRIVATE DEVELOPMENT BANK WEEK.
WHEREAS, one of the vital needs of a developing economy is capital to finance various industrial and agricultural projects;
WHEREAS, private development banks are greatly instrumental in accumulating the savings of the people and channeling them to medium and long term loans for agricultural and industrial projects; and
WHEREAS, the private development banking system in the Philippines although in its infancy has shown its capability of playing this important role in our economy.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, do hereby declare the last week of February of each year as Private Development Bank Week in order to remind and focus the attention of our citizens to the active role that private development banks are playing in our economic development.
I hereby designate the Development Bankers Association of the Philippines (DBAP) to take full charge of the celebration of the occasion.
IN WITNESS WHEREOF, I have hereunto set my hand and caused the seal of the Republic of the Philippines to be affixed.
Done in the City of Manila, this 13th day of February, in the year of Our Lord, nineteen hundred and sixty-eight.
(SGD.)FERDINAND E. MARCOS
President of the Philippines
By the President:
(SGD.) RAFAEL M. SALAS
Source: Presidential Management Staff