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In 1947, the government created the Rehabilitation Finance Corporation (RFC) under Republic Act No. 85 which absorbed the assets and took over the functions of the AIB. The RFC provided credit facilities for the development of agriculture, commerce and industry and the reconstruction of properties damaged by the war. [11]
Among the main remedies proposed was the establishment of the Philippine Rehabilitation Finance Corporation. This entity would be responsible for the construction of twelve thousand houses and for the grant of easy-term loans in the amount of P177,000,000.
In 1954, he was appointed by President Ramon Magsaysay as chairman and CEO of the Rehabilitation Finance Corporation (now reorganized as the Development Bank of the Philippines). [7] Due to his position as RFC chairman, he was an ex officio member of the Monetary Board of the Central Bank of the Philippines.
Among the undertakings of the Third Republic's initial year were: The establishment of the Rehabilitation Finance Corporation (which would be reorganized in 1958 as the Development Bank of the Philippines); [34] the creation of the Department of Foreign Affairs and the organization of the foreign service through Executive Order No. 18; the GI ...
Panay Railways, Inc. is a government-owned and controlled corporation of the Philippines that formerly operated railway systems on the islands of Panay and Cebu.It is headquartered in La Paz, Iloilo City, and is a subsidiary of Phividec Railways, Inc. under the Philippine Veterans Investment Development Corporation (PHIVIDEC). [1]
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Placido "Cidito" Ledesma Mapa Jr. (June 24, 1932 – May 5, 2019) a Filipino businessman, economist, and government official best known for having served as the second head of the National Economic and Development Authority (NEDA), which is the Philippines' highest economic and development planning body.
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