OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA 11th Year No.20 ADDIS ABABA 7th February , 2005 CONTENTS Proclamation No. 435/2005 Arab Bank for Economic Development in Africa Loan Agreement for No. Page 3035 PROCLAMATION NO . 435/2005 . A PROCLAMATION TO RATIFY THE LOAN AGREEMENT BETWEEN THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA AND THE ARAB BANK FOR ECONOMIC DEVELOPMENT IN AFRICA WHEREAS , a Loan Agreement , between the Federal 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 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 6th day of January , NOW , THEREFORE , in accordance with Article 55 Sub Article ( 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 Proclamation No. 435/2005 . ” Unit Price The African Law Archive Page 3036 2. Definition In this Proclamation “ Loan Agreement ” means the Loan Agreement signed between the Federal Democratic Republic of Ethiopia and the Arab Bank for Economic Development in Africa on the 23rd day of October , 2004 . 3. Power of the Minister of 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 thirteen million United States Dollars ( USD 13,000,000 ) , 000 ) in accordance with the terms and conditions set forth in the Loan Agreement . 4. Effective Date This Proclamation shall enter into force as of 7th day of February , 2005 . Done at Addis Ababa , this 7th day of February , 2005 . PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA The African Law Archive