Proclamation No. 62/1997

African Development Fund Loan Agreement for Financing the Addis Ababa Bole International Airport Development Project Ratification Proclamation

WHEREAS, a Loan Agreement, between the Federal Democratic Republic of Ethiopia and the African Development Fund stipulating that the African Development Fund provide to the Federal Democratic Republic of Ethiopia a loan amount of 19,500,000 UA (nineteen million five hundred thousand Units of Account) for partly financing the Addis Ababa Bole International Airport Development Project, was signed in Abidjan, on the 29th day of December, 1996,

WHEREAS, the House of Peoples’ Representatives of the Federal Democratic Republic of Ethiopia has ratified said Loan Agreement at its session held on the 25th day of February, 1997,

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 “African De-velopment Fund Loan Agreement for Financing the Addis Ababa Bole International Airport Development Project Ratification Proclamation No. 62/1997.”

2. Definition

In this Proclamation “Loan Agreement’ means the Loan Agreement No. F/ETH/AIR-DEV/96/37 signed in Abidjan, on the 20th day of December, 1996 between the Federal Democratic Republic of Ethiopia and the African Development Fund.

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 19,500,000 UA (nineteen million five hundred thousand Units of Account) 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 25th day of February, 1997.

Done at Addis Ababa, this 25th day of February, 1997.

NEGASO GIDADA (DR.)

PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA