Proclamation No. 106/1998

International Development Association Credit Agreement for Financing the Second Energy Project Ratification Proclamation

WHEREAS, a Development Credit Agreement, between the Federal Democratic Republic of Ethiopia and the International Development Association stipulating that the International Develop- ment Association provide to the Federal Democratic Republic of Ethiopia a credit amount of one hundred forty six million one hundred thousand Special Drawing Rights (SDR 146,100,000) for financing the Second Energy Project, was signed in Washington D.C., on the 25th day of January, 1998;

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 Credit Agreement at its session held on the 5th day of March, 1998;

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 Development Association Credit Agreement for Financing the Second Energy Project Ratification Proclamation No. 106/1998.”

2. Definition

In this proclamation “Credit Agreement” means the Credit Agreement No. 3019 ET signed in Washington D.C. on the 25th day of January, 1998 between the Federal Democratic Republic of Ethiopia and the International Development Association.

3. Power of the Minister of Finance

The Minister of Finance is hereby empowered to undertake all acts necessary for the utilization of the credit amount of one hundred forty six million one hundred thousand Special Drawing Rights (SDR 146,100,000) in accordance with the terms and conditions set forth in the Credit Agreement.

4. Effective Date

This Proclamation shall enter into force as of the 5th day of March, 1998.

Done at Addis Ababa, this 5th day of March, 1998.

NEGASO GIDADA(DR.)

PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA