Proclamation No. 78/1997

Arab Bank for Economic Development in Africa 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 Arab Bank for Economic Development in Africa stipulating that the Arab Bank for Economic Development in Africa provide to the Federal Democratic Republic of Ethiopia a loan amount of 12,000,000 USD (twelve million United States Dollars) for financing the Addis Ababa Bole International Airport Development Project, was signed in Cairo, on the 27th day of March, 1997;

WHEREAS, the House of Peoples’ Representatives of the Federal Democratic Republic of Ethiopia has ratified said Loan Agreement at its session held on the 3rd day of June, 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 “Arab Bank for Economic Development in Africa Loan Agreement for Financing the Addis Ababa Bole International Airport Development Project Ratification Proclamation No. 78/1997.”

2. Definition

In this Proclamation “Loan Agreement” means the Loan Agreement signed in Cairo, on the 27th day of March, 1997 between the Federal Democratic Republic of Ethiopia and the Arab Bank for Economic Development in Africa.

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 12,000,000 USD (twelve million 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 as of the 3rd day of June, 1997.

Done at Addis Ababa, this 3rd day of June, 1997…

NEGASO GIDADA (DR.)

PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOΡΙΑ