Section 4Sec./Art. 4

Creation of the Countrywide Industrialization Office (CIO).- The Countrywide Industrialization Office, hereinafter referred to as CIO, is hereby created and attached with the Department of Trade and Industry with the following functions:

a. to effectively facilitate the programmed distribution of financial assistance to approved countrywide industrialization projects endorsed by especially accredited LCIBs referred to in Section 6 hereof, and to authorize disbursements by the PNB, DBP and LBP from the CIF of the amount of financial assistance approved by the CIO to the specified countrywide projects;

b. to provide such guidelines as may be necessary to carry out the policies of this Act;

c. to monitor and evaluate on a regular basis the status of all LCIBs and to help them achieve viability and success;

d. to pursue appropriate measures to increase the corpus of the CIF such as the availment of foreign loans/grants;

e. to make representations and coordinate with agencies of the National Government which provide advice and technical assistance to private sector enterprises so that these may be made accessible to countrywide industrialization projects as requested by their LCIBs.