Question & AnswerQ&A (EXECUTIVE ORDER NO. 158)
The purpose is to create the 'aTulong Sa Tao Fund' as a revolving fund to support employment generation programs aimed at addressing unemployment through productive activities.
The Ministry of Trade and Industry administers the aTulong Sa Tao Fund.
The initial seed money is one hundred million pesos, with thirty million pesos allocated for Self-Employment Loan Assistance and seventy million pesos for other components of the program.
The two main components are: 1) Self-Employment Loan Assistance to provide loans to entrepreneurs, and 2) Subcontracting Financing to provide financing for subcontracting businesses.
All income and interest earned by the Fund accrue to the Fund itself and may be used for relending consistent with the program's purposes, and to defray operational, administrative, and other related expenses.
Government financial institutions selected by the Ministry receive the Fund's money, which is constituted and administered as trust funds under agreed terms and conditions.
The Minister can identify priority areas, designate implementing units, select administering financial institutions, determine loan amounts and terms, set borrower qualifications, and exercise other powers to ensure the program's success.
The Ministry must submit quarterly reports on the Fund’s income and expenditures to the Office of Budget and Management.
The Ministry of Trade and Industry and the Office of the Budget and Management jointly formulate the implementing rules and regulations.
The Executive Order took effect immediately upon issuance on April 13, 1987.