2000

PROCLAMATION No. 204 2000 LOAN AGREEMENT BETWEEN THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA AND THE OPEC FUND

PROCLAMATION No. 204 2000

A PROCLAMATION TO RATIFY THE LOAN AGREEMENT BETWEEN THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA 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 9,500,000 (nine million five hundred thousand United States Dollars) for financing the Nejo-Mendi 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 (2) of the Constitution, it is hereby proclaimed as follows:

1. Short Title

This Proclamation may be cited as the “OPEC Fund for International Development Loan Agreement for financing the Nejo-Mendi Road Project Ratification Proclamation No. 204 /2000.”

2. Definition

In this Proclamation “Loan Agreement” means the Loan Agreement No. 776P 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.

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 USD 9,500,000 (nine million five hundred thousand United States Dollars) in accordance with the terms and conditions set forth in the Loan Agreement.

4. 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

NEGASO GIDADA (DR.)

PRESIDENT OF THE FEDERAL

DEMOCRATIC REPUBLIC OF ETHIOPIA

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Categories: 2000, Legislation

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