Proclamation No. 35/1996

International Development Association Loan Agreement for Financing the National Seed Project Ratification Proclamation

WHEREAS, a Loan Agreement, between the Federal Democratic Republic of Ethiopia and the International De-velopment Association stipulating that the International Development Association provide to the Federal Democratic Republic of Ethiopia a loan amount of 15,200,000 SDR (fifteen million two hundred thousand Special Drawing Rights) for financing the National Seed Project, was signed in Washington D.C., on the 29th day of September, 1995;

WHEREAS, the House of Peoples’ Representatives of the Federal Democratic Republic of Ethiopia has ratified said Loan Agreement at its session held on the 14th day of May, 1996;

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 “International Development Association Loan Agreement for Financing the National Seed Project Ratification Proclamation No. 35/1996.”

2. Definition

In this Proclamation “Loan Agreement” means the Loan Agreement No. 2741 ET (as amended) signed in Washing-ton D.C., on the 29th day of September, 1995 between the Federal Democratic Republic of Ethiopia and the Inter-national Development Association.

3. Power of the Minister of Finance

The Minister of Finance is hereby empowered to under-take all acts necessary for the utilization of the loan amount of 15,200,000 SDR (fifteen million two hundred thousand Special Drawing Rights) 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 14th day of May, 1996.

Done at Addis Ababa, this 14th day of May, 1996.

NEGASO GIDADA (DR.)

PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA