PROCLAMATION NO. 15/1996 LOAN AGREEMENT BETWEEN THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA AND THE EUROPEAN INVESTMENT BANK

PROCLAMATION NO. 15/1996 A PROCLAMATION TO RATIFY THE LOAN AGREEMENT BETWEEN THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA AND THE EUROPEAN INVESTMENT BANK WHEREAS, a Loan Agreement, between the Federal Democratic Republic of Ethiopia and the European Investment Bank stipulating that the European Investment Bank provide to the Federal Democratic Republic of Ethiopia a loan amount of twenty-one million European Currency Units (ECUs 21,000,000) for partly financing the Ethiopian Civil Aviation Authority Project comprising the extension and rehabilitation of the Addis Ababa Bole Airport and the rehabilitation of Six Regional Airports, was signed in Luxembourg, on the 11^th day of December, 1995; WHEREAS, it is necessary to ratify, said Loan Agreement;
NOW, THEREFORE, in accordance with Article 55 sub-Articles (1) and (12) of the Constitution, it is hereby proclaimed as follows: 1. Short Title This Proclamation may be cited as the "European Investment Bank Loan Agreement for partly financing the Ethiopian Civil Aviation Authority Project Ratification Proclamation No. 15/1996." 2. Ratification of the Loan Agreement The Loan agreement for partly financing the project here in above specified is here by ratified. 3. power of the Minister of Finance The Minister of Finance is hereby empowered to undertake all acts necessary for the utilization of the loan amount of twenty-one million European Currency Units (ECUs 21,000,000) in accordance with the terms and conditions set forth in the Loan Agreement. 4. Effective date This Proclamation shall enter into force as of the 6^th day of February, 1996. Done at Addis Ababa, this 6^th day of February, 1996.   NEGASO GIDADA(DR.) PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA