Tuesday, August 2, 2011

PROCLAMATION NO. 18/1996 LOAN AGREEMENT BETWEEN THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA AND THE INTERNATIONAL DEVELOPMENT ASSOCIATION


PROCLAMATION NO. 18/1996
A PROCLAMATION TO RATIFY THE LOAN AGREEMENT BETWEEN THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA AND THE INTERNATIONAL DEVELOPMENT ASSOCIATION
 WHEREAS, a Loan Agreement, between the Federal Democratic Republic of Ethiopia and the International Development Association stipulating that the International Development Association provide to the Federal Democratic Republic of Ethiopia a loan amount of eighty-two million nine hundred thousand Special Drawing Rights (SDR 82,900,000) for partly financing the National Fertilizer Project, was signed in Washington D.C., on the 29th day of September, 1995;
THEREAS, the House of Peoples's Representatives of the Federal Democratic Republic of Ethiopia has ratified said Loan Agreement at its session held on the 13th day of February, 1996;
NOW, THEREFORE, in accordance with Article 55/12 of the Constitution, it is hereby proclaimed as follows:
1. Short Title This Proclamation may be cited as the "International Development Association Loan Agreement for partly financing the National Fertilizer Project Ratification Proclamation No. 18/1996." 2. Definition In this Proclamation "Loan Agreement" means the Loan Agreement No. 2740 ET signed in Washington D.C., on the 29th day of September 1995 between the Federal Democratic Republic of Ethiopia and the International Development Association. 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 eighty-two million nine hundred thousand Special Drawing Rights (SDR 82,900,000) 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 13th day of February, 1996.
Done at Addis Ababa, this 13th day of February, 1996.
 
NEGASO GIDADA(DR.)
PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA

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