Proclamation No. 64/1997

A PROCLAMATION TO RATIFY THE LOAN AGREEMENT BETWEEN THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA AND THE INTERNATIONAL FUND FOR AGRICULTURAL DEVELOPMENT

WHEREAS, a Loan Agreement, between the Federal Democratic Republic of Ethiopia and the International Fund for Agricultural Development stipulating that the International Fund for Agricultural Developement provide to the Federal Democratic Republic of Ethiopia a loan amount of four million six hundred thousand Special Drawing Rights (SDR 4,600,000) for partly financing the National Seed Project, was signed in Rome, on the 11th day of October, 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 27th 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 “International Fund for Agricultural Development Loan Agreement for partly Financing the National Seed Project Ratification Proclamation No. 64/1997.”

2. Definition

In this Proclamation “Loan Agreement” means the Loan Agreement No. 421-ET. signed in Rome on the 11th day of October, 1996 between the Federal Democratic Republic of Ethiopia and the International Fund for Agricultural 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 four million six hundred thousand Special Drawing Rights (SDR 4,600,000) 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 27th day of February, 1997.

Done at Addis Ababa, this 27th day of February, 1997.

NEGASO GIDADA (DR.)

PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA