Executive Order No. 884, May 28, 2010

AUTHORIZING THE DEVELOPMENT BANK OF THE PHILIPPINES TO ACQUIRE PROPERTIES ON BEHALF OF THE DEPARTMENT OF FOREIGN AFFAIRS

WHEREAS, in the pursuit of its foreign policy, the Philippine Government is guided by the preservation and enhancement of national security, the promotion and attainment of economic security, and the protection of the rights and promotion of the welfare and interests of Filipino overseas;

WHEREAS, to effectively generate long-term savings for the Government and take advantage of market opportunities significantly rendering foreign and local real estate properties relatively more affordable, it would better serve the national interest to own rather than lease certain properties;

WHEREAS, the Department of Foreign Affairs (DFA), in consultation with the Development Bank of the Philippines (DBP), has identified certain properties in the following locations that are available for acquisition, namely: (1) Seoul, South Korea; (2) Amman, Jordan; (3) Pretoria, South Africa; (4) Los Angeles, California, U.S.A.; (5) Dubai, U.A.E.; (6) Berlin, Germany; (7) Chicago, Illinois, U.S.A.; (8) Rome, Italy; (9) Milan, Italy; (10) Vatican City; (11) Mexico City, Mexico; (12) London, U.K.; (13) Brunei Darussalam; (14) Geneva, Switzerland; (15) Hanoi, Vietnam; (16) Athens, Greece; (17) Manama, Bahrain; and (18) Brussels, Belgium, to be used as chanceries, consulates and official residences of the heads of Foreign Service Posts overseas; (19) La Union, Philippines; (20) Davao, Philippines; (21) Zamboanga, Philippines; (22) Cebu, Philippines; and (23) Iloilo, Philippines, to be used as Regional Consular Offices in the Philippines; and such other properties for acquisition as may be identified by the DFA for said purposes;

WHEREAS, the DBP is hereby directed to acquire the abovementioned properties for and on behalf of the DFA;

WHEREAS, the DFA has in its annual appropriations a Building Fund which represents portion of its current years consular income that is set aside for the acquisition, construction, or renovation by DFA of properties abroad and in the Philippines;

WHEREAS, the DFA also has an annual rental appropriation for the abovementioned properties which, in addition to the Building Fund, shall be automatically covered by a Multi-Year Obligational Authority (MYOA) to be issued by the Department of Budget and Management (DBM) as source of funds.

NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the Republic of the Philippines, by virtue of the powers vested in me by law, do hereby authorize the Development Bank of the Philippines (DBP) to acquire for and on behalf of the Department of Foreign Affairs (DFA) the properties in the following locations that are available for acquisition, namely: (1) Seoul, South Korea; (2) Amman, Jordan; (3) Pretoria, South Africa; (4) Los Angeles, California, U.S.A.; (5) Dubai, U.A.E.; (6) Berlin, Germany; (7) Chicago, Illinois, U.S.A.; (8) Rome, Italy; (9) Milan, Italy; (10) Vatican City; (11) Mexico City, Mexico; (12) London, U.K.; (13) Brunei Darussalam; (14) Geneva, Switzerland; (15) Hanoi, Vietnam; (16) Athens, Greece; (17) Manama, Bahrain; and (18) Brussels, Belgium, to be used as chanceries, consulates and official residences of the heads of Foreign Service Posts overseas; (19) La Union, Philippines; (20) Davao, Philippines; (21) Zamboanga, Philippines; (22) Cebu, Philippines; and (23) Iloilo, Philippines, to be used as Regional Consular Offices in the Philippines; and such other properties for acquisition as may be identified by the DFA for said purposes. The DFA is also authorized to utilize the Building Fund and the annual rental appropriation for the said properties covered by a Multi-Year Obligational Authority (MYOA) to be issued by the Department of Budget and Management (DBM) to cover any advances, attendant costs and expenses of the DBP.

Furthermore, the DBP and DFA are hereby directed to formulate the necessary procedures to implement the foregoing

DONE in the City of Manila, this 28th day of May, in the year of Our Lord, Two Thousand Ten.

(Sgd.) GLORIA MACAPAGAL-ARROYO

President of the Philippines

By the President:

(Sgd.) LEANDRO R. MENDOZA

Executive Secretary