Proclamation No. 124/1998

International Development Association Credit Agreement for Partly Financing the Education Sector Development Program Ratification

WHEREAS, a Development Credit Agreement, between the Federal Democratic Republic of Ethiopia and the International Development Association stipulating that the Intr-national Development Association provide to the Federal De-mocratic Republic of Ethiopia a Credit amount of SDR 74,300,000 (seventy four million three hundred thousand Special Drawing Rights) for partly financing the Education Sector Development Program, was signed in Washington D.C, on the 4th day of June, 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 Agrement at its session held on the 30th day of June, 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 partly Financing the Education Sector Development Program Ratification proclamation No. 124/1998.”

2. Definition

In this proclamaiton “Crdit Agreement’ Means the Credit Agreement No. 3077 ET. signed in Wahsington DC on the 4th day of June, 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 SDR 74,300,000 (seventy four million three hundred thousand Special Drawing Rights) in accordance with the terms and conditions set forth in the Credit Agreement.

4. Effective Date

This Proclamation shall come into force as of the 30th day of June, 1998.

Done at Addis Ababa, on this 30th day of June, 1998.

NEGASO GIDADA (DR.)

PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA