Tuesday, August 2, 2011

PROCLAMATION NO. 45/1996 LOAN AGREEMENT BETWEEN THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA AND THE INTERNATIONAL DEVELOPMENT ASSOCIATION


PROCLAMATION NO. 45/1996
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 million eight hundred thousand Special Drawing Rights (SDR 80,800,000) for financing the Ethiopian Social Rehabilitation and Development Fund Project, was signed in Washington D.C., on the 15th day of May, 1996;
WHEREAS, the House of Peoples' Representatives of the Federal Democratic Republic of Ethiopia has ratified said Loan Agreement at its session held on the 7th day of July, 1996;
NOW, THEREFORE, in accordance with Article 55 sub-Articles (1) and (12) of the Constitution, it is hereby proclaimed as follows:
  1. Short Title
  2. This Proclamation may be cited as the "International Development Association Loan Agreement for financing the Ethiopian Social Rehabilitation and Development Fund Project Ratification Proclamation No. 45/1996."
  3. Definition
  4. In this Proclamation "Loan Agreement" means the Loan Agreement No. 2841 ET signed in Washington D.C. on the 15th day of May, 1996 between the Federal Democratic Republic of Ethiopia and the International Development Association.
  5. Power of the Minister of Finance
  6. The Minister of Finance is hereby empowered to undertake all acts necessary for the utilization of the loan amount of eighty million eight hundred thousand Special Drawing Rights (SDR 80,800,000) in accordance with the terms and conditions set forth in the Loan Agreement.  
  7. Effective Date
This Proclamation shall enter into force as of the 7th day of July, 1996.
Done at Addis Ababa, this 7th day of July, 1996.
NEGASO GIDADA (DR.)
PRESIDENT OF THE FEDERAL DEMOCRATIC
REPUBLIC OF ETHIOPIA

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