Proclamation No. 142/1998

Nordic Development Fund Credit Agreement for Partly Financing the Second Energy Project Ratification proclamation

WHEREAS, a Credit Agreement between the Federal Democratic Republic of Ethiopia and the Nordic Development Fund stipulating that the Nordic Development Fund Provide to the Federal Democratic Republic of Ethiopia a Credit amount of SDR 4,000,000 (four million Special Drawing Rights) for partly financing the Second Energy Project, was signed in Abidjan, On the 27th day of May, 1998; WHEREAS, basic economic international agreements have to be ratified prior to entry into force; WHEREAS, the House of Peples’ Representatives of the Federal Democratic Republic of Ethiopia has ratified said Credit Agreement at its session held on the 15th day of December, 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 “Nordic Development Fund Credit Agreement for Partly Financing the Second Energy Project Ratification proclamation No. 142/1998.”

2. Definition

In this Proclamation “Credit Agreement” means the Credit Agreement No. 198 signed in Abidjan on the 27th day of May, 1998 between the Federal Democratic Republic of Ethiopia and the Nordic 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 Credit amount of SDR 4,000,000 (four million 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 on the 15th day of December, 1998.

Done at Addis Ababa, this 15th day of December, 1998.

NEGASO GIDADA (DR)

PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA