African Development Fund Loan Agreement for the Wacha-Maji Road Upgrading Project Ratification Proclamation No. 385-2004

 PROCLAMATION NO. 385/2004.

A PROCLAMATION TO RATIFY THE LOAN AGREEMENT   BETWEEN   THE   FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA AND THE AFRICAN DEVELOPMENT FUND

WHEREAS, a Loan Agreement, between the Federal Democratic Republic of Ethiopia and the African Development Fund stipulating that the African Development Fund provides to the Federal Democratic Republic of Ethiopia a loan amount of 22,710,000.00 UA (Twenty Two Million Seven Hundred Ten Thousand Units of Account) for financing the Wacha-Maji Road Upgrading Project, was signed in Tunis, on the 13th day of October, 2003;  

WHEREAS, The House of Peoples’ Representatives of the Federal Democratic Republic of Ethiopia has ratified the said Loan Agreement at its session held on the 27th day of January, 2004;

 NOW, THEREFORE, in accordance with Article 55 (1) and (12)  of the Constitution it is hereby proclaimed as follows: 

1.   Short Title

       This Proclamation may be cited as the  “African Development Fund Loan Agreement for the Wacha-Maji Road Upgrading Project Ratification Proclamation No. 385/2004.”

2.  Definition

     In this Proclamation “Loan Agreement” means the Loan Agreement No. 2100150007102 signed in Tunis on the 13th day of October 2003 between the Federal Democratic Republic of Ethiopia and the African Development Fund. 

3. Power of the Minister of Finance and Economic Development

      The Minister of Finance and Economic Development is hereby empowered to undertake all acts necessary for the utilization of the loan amount of 22,710,000.00 UA (Twenty Two Million Seven Hundred Ten Thousand Units of Account) in accordance with the terms and conditions set forth in the Loan Agreement.

3.   Effective Date

This Proclamation shall enter into force on the 27th day of January, 2004

Done at Addis Ababa, this 27th day of January, 2004

GIRMA WOLDEGIORGIS

PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA