Section 2Sec./Art. 2

Declaration of Policy. In order to give meaning and realization to the constitutional mandate of providing immediate and adequate benefits and other forms of assistance to all Filipino war veterans, and the retired military personnel, including their surviving spouses, orphans and compulsory heirs, in recognition of the patriotic services in times of war and peace for the cause of freedom and democracy, it is hereby declared the policy of the State to execute a viable plan that will promote the welfare of all Filipino war veterans and retired military personnel.

In line with this policy, the State shall foster their socioeconomic security and general well-being by extending to them substantial support for their livelihood and income-generating projects through the efficient and effective revitalization of the Philippine Veterans Bank, hereinafter known as Veterans Bank, which is deeply imbued with public interest.