2000

PROCLAMATION NO. 203 /2000 LOAN AGREEMENT BETWEEN THE FEDERAL DEMOCRATIC REPUBLIS OF EITHIOPIA AND THE OPEC FUND

PROCLAMATION NO. 203 /2000

A PROCLAMATION TO RATIFY THE LOAN AGREEMENT

BETWEEN THE FEDERAL DEMOCRATIC REPUBLIS

OF EITHIOPIA AND THE OPEC FUND FOR

INTERNATIONAL DEVELOPMENT

WHEREAS, a Loan Agreement, between the Federal Democratic Republic of Ethiopia and the OPEC Fund for International Development stipulating that the OPEC Fund for International Development shall provide to the Federal Democratic Republic of Ethiopia a loan amount of USD 10,000,000 (ten million United States Dollars) for financing the Mekenago-Nejo Road Project, was signed in Addis Ababa on the 21st day of December, 1999.

WHEREAS, basic economic international agreements have to be ratified prior to entry into force;

WHEREAS, the House of Peoples’ Representatives of the Federal Democratic Republic of Ethiopia has ratified said loan Agreement at its session held on the 6th day of June, 2000;

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 “OPEC Fund for International Develop- ment Loan Agreement for financing the Mekenajo-Nejo Road Project Ratification Proclamation No. 203/2000.”

 

    1. Definition

    In this Proclamation “Loan Agreement” means the Loan Agreement No. 775P signed in Addis Ababa on the 21st day of December, 1999, between the Federal Democratic Republic of Ethiopia and the OPEC Fund for International Development.

      1. POWER OF THE MINSTER OF FINANCE

      The Minister of Finance is hereby empowered to undertake all acts necessary for the utilization of the loan amount of USD 10,000,000 ten million United States Dollars in accordance with the terms and conditions set forth in the Loan Agreement.

      1. EFFECTIVE DATE

      This Proclamation shall enter into force on the 6th day of June 2000.

      Done at Addis Ababa, this 6th day of June 2000.

      NEGASSO GIDADA (DR.)

      PRESIDENT OF THE FEDERAL

      DEMOCRATIC REPUBLIC OF ETHIOPIA

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      Categories: 2000, Legislation

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