Thursday, March 11, 2021

People’s Republic of China Loan Agreement for financing Pushikin to Gottera Road Project Ratification Proclamation No.986/2017

 

PROCLAMATION  No.986 /2017

 

A PROCLAMATION TO RATIFY THE LOAN AGREEMENT FOR FINANCING PUSHIKIN TO GOTTERA ROAD PROJECT BETWEEN THE GOVERNMENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA AND THE GOVERNMNET OF THE PEOPLE’S REPUBLIC OF CHINA

 

WHERE AS, Loan Agreements between the  Government of the Federal Democratic Republic of Ethiopia and the Government of the People’s Republic of China stipulating that the  People’s Republic of China provide to the Federal Democratic Republic of Ethiopia Loans in an amount equivalent  to  three hundred sixty million Chinese Yuan (360,000000 Chinese Yuan)  for financing Pushikin to Goterra  Road Project was signed in Addis Ababa on the 20th day of July 2010, 18th April 2011, 15th August 2011,28th January 2012,  29th October  2012 and 24th day of May 2013,

WHERE AS, the House of the Peoples’ Representatives of the Federal Democratic Republic of Ethiopia has ratified the said agreement at its session held on the 27th  day of December, 2016,

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

 

1.   Short Title

 

This Proclamation may be cited as the “People’s Republic of China Loan Agreement for financing Pushikin to Gottera Road Project Ratification Proclamation No.986/2017”.

 

2.   Ratification of the Agreement

 

The Loan agreement signed on the 20th day of July 2010, 18th April 2011, 15th August 2011, 28th January 2012,    29th October 2012 and 24th day of May 2013 between the Government of the Federal Democratic Republic of Ethiopia and the Government of the People’s Republic of China are hereby ratified.

 

 

 

3. Power of the Ministry of Finance and Economic Cooperation

The Ministry of Finance and Economic Cooperation is hereby empowered to undertake all acts necessary for the utilisation of the Loan amount of three hundred sixty million Chinese Yuan (360,000,000 Chinese Yuan ) in accordance with the terms and conditions set forth in the Loan Agreement.

 4.Effective  Date

 

Proclamation shall enter into force on the date of publication in the Federal Negarit Gazette.

 

 

 

 

 

Done at Addis Ababa, this 12th day of January, 2017

 

 

MULATU   TESHOME (DR.)

PRESIDENT OF THE FEDERAL   DEMOCRATIC  REPUBLIC OF ETHIOPIA

 

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