EXECUTIVE ORDER NO. 301

: The main objective is to insure to the people adequate shelter and clothing and sufficient food supply.
: The President of the Philippines is empowered to designate any instrumentality of the National Government.
: The Philippine National Bank was designated as one of the agencies to carry out the objectives.
: The Philippine National Bank was tasked with extending credit facilities to tenants to support them between harvest seasons and cover expenses for purchasing seeds and cultivating the land.
: Credit will be extended under such conditions as the Board of Directors of the Philippine National Bank may determine.
: One million pesos were allocated to the Philippine National Bank for this purpose.
: The fund was appropriated under section five of Commonwealth Act Numbered Six Hundred.
: Yes, the Philippine National Bank is authorized to disburse the allocated funds for the purposes stated.
: The Bank is required to render a report to the President of the Philippines at the end of every month on its disbursements against the fund.