PROCLAMATION NO. 46/1996 LOAN AGREEMENT BETWEEN THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA AND THE INTERNATIONAL DEVELOPMENT ASSOCIATION


PROCLAMATION NO. 46/1996
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 twenty four million Special Drawing Rights (SDR 24,000,000) for financing the Water Supply Development and Rehabilitation Project, was signed in Washington D.C., on the 15 th 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 24th day of October, 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
This Proclamation may be cited as the "International Development Association Loan Agreement for Financing the Water Supply Development and Rehabilitation Project Ratification Proclamation No.46/1996."
2. Definition
In this Proclamation "Loan Agreement" means the Loan Agreement No. 2842 ET signed in Washington D.C. on the 15 th day of May, 1996 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 twenty four million Special Drawing Rights (SDR 24,000,000) 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 24th day of October, 1996.
Done at Addis Ababa, this 24 th day of October, 1996.
NEGASO GIDADA (DR.)
PRESIDENT OF THE FEDERAL DEMOCRATIC
REPUBLIC OF ETHIOPIA

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