QuestionsQuestions (EXECUTIVE ORDER NO. 75)
It rationalizes the utilization of the National Livelihood Support Fund (NLSF)/BKKK fund by placing the fund and its Secretariat under the supervision of the Land Bank of the Philippines and reorganizing the Secretariat to serve as the ERAP Trust Fund Secretariat.
E.O. No. 238 directed that the BKKK Capital Fund and its earnings be used for the promotion, generation, and development of livelihood opportunities.
It transfers and attaches the BKKK Secretariat and the BKKK Capital Fund/NLSF to the Land Bank of the Philippines.
It institutionalized administrative supervision by the Land Bank through an Executive Committee over the BKKK Secretariat and the BKKK Capital Fund/NLSF.
Memorandum Order No. 11 (August 13, 1998) directed the Land Bank to invest additional P900 million from the NLSF into the People’s Credit and Finance Corporation (PCFC).
Administrative Order No. 45 abolished the Executive Committee of the National Livelihood Support Fund.
It transformed/renamed the BKKK Capital Fund into a Trust Fund known as Effective Response to Alleviate Poverty (ERAP) Trust Fund.
It remains under the supervision of the Land Bank of the Philippines.
The President of the Land Bank of the Philippines chairs the Management Committee.
The Executive Director of the NLSF Secretariat serves as Vice Chairman.
Representatives from the Office of the President, Department of Agrarian Reform, Department of Agriculture, Department of the Interior and Local Government, People’s Credit and Finance Corporation (PCFC), Farmers Organizations, and the Labor Sector.
It is the policy-making body through which the Land Bank of the Philippines exercises supervision over the ERAP Trust Fund and the Secretariat.
It reorganizes the Secretariat to serve as the ERAP Trust Fund Secretariat and realigns it as a livelihood and enterprise development, generation, and promotion agency of government.
Those who may not be absorbed under the DBM-approved staffing pattern are entitled to separation benefits equivalent to two (2) months’ latest salary for every year of government service.
It is directed to establish a resource development instrumentality for policy development and capability building of its partners and beneficiaries.
The Secretariat must submit annual reports to the Office of the President.
The President of the Land Bank of the Philippines and the Executive Director of the NLSF Secretariat are directed to formulate and issue the implementing guidelines.
All executive issuances, orders, rules, and regulations inconsistent with E.O. No. 75 are revoked, amended, or modified accordingly.
It takes effect immediately.