The Export Development Act of 1994 provides that it is the “goal and objective” of the “National Government to provide a macroeconomic policy framework to support export development, in the area of, among others “…fiscal and credit policies ensuring the provision of adequate funds for public and private investments and business expansion, while keeping the cost of credit comparable to international levels ensuring access to loanable funds for MSMEs as well as highly technical export enterprises, especially those in the countryside1”. The EDC Networking Committee on Financing shall function as mandated by the Export Development Act of 1994 and to make possible the actualization of this general principle.
GENERAL OBJECTIVES
The Networking Committee on Financing aims to have an export-financing scheme available at internationally competitive rates, especially to small and medium direct and indirect exporters.
STRUCTURE AND ROLES
The Committee shall be composed of a Chairperson, Vice-Chairperson and members. The Committee shall be assisted by the EDC Secretariat.
The Chairperson is appointed by the EDC or elected by the members via a majority vote. He/She shall
- Preside over allmeetings and directly work with the secretariat in all matters related to the work program of the group
- Represent the EDC in legislative hearings and consultations on matters related to the work program of the committee to push EDC’s position; and
- In addition to or in the absence of representations from the EDC, serve as the EDC spokesperson on committee issues.
The Vice-Chairperson shall handle the tasks of the Chairperson in case he is unavailable. The Vice-Chairperson is selected from among the members of the committee via a majority vote.
Membership. Members of the committee shall come from among the industry members of the EDC. The members shall:
- Assist in identifying issues that concern the Committee;
- Provide/suggest inputs/recommendations/course of action to take for resolution of these issues; and
- Attend legislative hearings, consultations or technical working groups meetings to push EDC’s position on particular issues.