Section 4Sec./Art. 4

Section 3 of Presidential Decree No. 1080, as amended, is hereby amended to read as follows:

"Section 3. Functions. – The Corporation shall have the following functions:

"a) To promote and facilitate the entry of foreign loans into the country for development purposes having special regard to the needs of export-oriented industries, industries registered with the Board of Investments, public utilities, and industries the promotion of which is encouraged by government policy;

"b) To guarantee loans granted by Philippine banking and financial institutions to qualified exporters, producers of export products, and contractors with approved service contracts abroad;

"c) To facilitate and assist in the implementation of approved service contracts abroad entered into by Philippine entities, enterprises, or corporations with foreign exchange earning potentials, by providing counter-guarantees to Philippine banks and financial institutions issuing stand-by Letters of Credit or of Letters of Guarantee for the performance of said service contracts;

"d) To meet requests from domestic entities, enterprises, and corporations to assist them in the coordination of their development and expansion plans with a view to achieving better utilization of their resources;

"e) To provide technical assistance in the preparation, financing and execution of development or expansion programs, including the formulation of specific project proposals; and

"f) To undertake such actions that are consistent with the primary purposes of the corporation."