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Republic of the Philippines
PALAWAN COUNCIL FOR SUSTAINABLE DEVELOPMENT
(R.A. 7611)
Puerto Princesa City, Palawan

PCSD RESOLUTION NO. 12-439

A RESOLUTION AUTHORIZING THE PCSDS OIC-EXECUTIVE DIRECTOR TO OPEN AN IMPREST ACCOUNT AT A COMMERCIAL BANK OR GOVERNMENT BANK ACCEPTABLE TO THE ASIAN DEVELOPMENT BANK AND THE GOVERNMENT OF THE PHILIPPINES RE: JAPAN FUND FOR POVERTY REDUCTION (JFPR)-GRANT ASSISTANCE FOR DEVELOPING SUSTAINABLE ALTERNATIVE LIVELIHOODS IN COASTAL FISHING COMMUNITIES IN THE CORAL TRIANGLE: INDONESIA AND PHILIPPINES

WHEREAS, the Government of the Philippines through Undersecretary Rosalia V. De Leon of the Department of Finance (DOF) confirmed the aforementioned JFPR Grant Assistance amounting to ONE MILLION DOLLARS (US $1.M for developing sustainable alternative livelihoods in coastal fishing communities in the Philippines) as stipulated in a Letter of Agreement 15 May 2012 signed by Mr. Neeraj Jain, Country Director-Philippines of the Asian Development Bank (ADB);

WHEREAS, the municipality of Balabac in the province of Palawan, Philippines was identified as the project site considering its present socio-economic and environmental condition as well as its strategic location in the Coral Triangle,

WHEREAS
, as indicated in the Grant Assistance Report which is attached as an Annex to the Letter of Agreement between the ADB and DOF, the Palawan Council for Sustainable Development (PCSD) will serve as the Executing and implementing agency for the JFPR Project in Balabac, Palawan;

WHEREAS, as further stipulated in the signed Letter of Agreement, the PCSD through its professional support staff, the Palawan Council for Sustainable Development Staff (PCSDS) shall establish immediately upon its confirmation of the Letter of Agreement or such later date as the Bank may agree, an imprest account at a commercial bank acceptable to the Asian Development Bank;

WHEREAS, said imprest account shall be established, managed, replenished, and liquidated in accordance with ADB’s Loan Disbursement Handbook;

WHEREAS, upon motion of OIC-Executive Director Matulac, duly seconded;

BE IT RESOLVE, AS IT IS HEREBY RESOLVED, to authorize the OIC-PCSDS Executive Director to open an imprest account at a commercial lor government bank acceptable to the Asian Development Bank and the Government of the Philippines dedicated to the Project on Developing Sustainable Alternative Livelihoods in Coastal Fishing Communities in the Coral Triangle specifically located in the municipality of Balabac, Palawan, Philippines where the Bank will channel the JFPF Grant Proceeds that will be used in the implementation of the aforementioned project;

RESOLVED FINALLY
, that a copy of this Resolution be furnished to the Department of Finance, Asian Development Bank-Philippine Country Office, DENR Secretary, the Provincial Government of Palawan and the Local Government of Balabac and the Director-General, National Economic Development Authority and other concerned agencies/institutions for their information and reference.

I hereby certify to the correctness and accuracy of the above-quoted resolution.

JOSEPHINE S. MATULAC
Acting Secretary
APPROVED FOR THE COUNCIL :

HON. ABRAHAM KAHLIL B. MITRA
PCSD Chair