Proclamation No. 491/2006

A PROCLAMATION TO RATIFY THE LOAN AGREEMENT BETWEEN THE GOVERNMENT OF THE FEDERAL DEMOCRATIC REPUBLIC or ETHIOPIA AND THE EXPORT-IMPORT BANK OF INDIA

WHEREAS, a Loan Agreement, between the Government
of the Federal Democratic Republic of Ethiopia and the
Export Import Bank of India stipulating that the Export
Import Bank of India provide to the Federal Democratic
Republic of Ethiopia a Loan in an amount not exceeding
65,000,000 USD (sixty five million United States Dollars)
for financing Hagere Mariam-Mega Power Transmission
Project, was signed in New Delhi on the 20th day of April
2006;

WHEREAS, the House of Peoples' Representatives
of the Federal Democratic Republic of Ethiopia has
ratified said Loan Agreement at its session held on the
23rd day of May, 2006;

NOW, THEREFORE, in accordance with Article
55 Sub-Anicle (l) and (12) of the Constitution it is
hereby proclaimed as follows:

PART ONE

GENERAL

1. Short Title

This Proclamation may be cited as the "Export
Import Bank of India Credit Line Agreement for the
Hagere Mariam-Mega Power Transmission Project
Ratification Proclamation No.491/2006."

2. Ratification of the Agreement

The Loan Agreement signed in New Delhi on the
day of April 2006 between the Government of
the Federal Democratic Republic of Ethiopia and
the Export-Import Bank of India is hereby ratified.

3. Power of the Minister o! Finance and Economic Development

The Minister of Finance and Economic
Development is hereby empowered to undertake all
acts necessary for the utilization of the loan amount
of 65,000,000 USD (sixty five 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 on the
date of its publication in the Federal Negarit
Gazeta.

Done at Addis Ababa, this 7th day of June, 2006

GIRMA WOLDEGIORGIS

PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA