OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA 3 Year No . 49 ADDIS ABABA - 314 July , 1997 CONTENTS Proclamation No . 85 / 1997 European Investment Bank Loan Agreement for on Lending Through the Development Bank of Ethiopia , to Small and Medium - sized Private Sector Enterprises Ratification Proclamation . . . . . . . . . Page 602 PROCLAMATION NO . 85 / 1997 A PROCLAMATION TO RATIFY THE LOAN AGREEMENT BETWEEN THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA AND THE EUROPEAN INVESTMENT BANK WHEREAS , a Loan Agreement , between the Federal Democratic Republic of Ethiopia and the European Investment Bank , stipulating that the European Investment Bank provide to the Federal Democratic Republic of Ethiopia a Loan amount of 10 million ECU ( ten million ECU ) for onlending , through the Development Bank of Ethiopia , to small and mediumsized private sector enterprises in the manufacturing , agro - industry , | mining , tourism and related sectors , was signed in Luxembourg on the 18th day of December , 1996 ; WHEREAS , the House of Peoples ' Representatives of the Federal Democratic Republic of Ethiopia has ratified said Loan Agreement at its session held on the 3rd day of July , 1997 ; 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 “ European Invest ment Bank Loan Agreement for on - Lending Through the Development Bank of Ethiopia , to Small and Medium - Sized Private Sector Enterprises Ratification Proclamation No . 85 / Unit Price www . AfricanLawArchive . com * * * The African Law Archive * * * www . AfricanLawArchive . com 2 . Definition In this Proclamaiton “ Loan Agreement ” ' means the Loan Agreement No . 7 . 1073 ETHIO signed in Luxembourg , on the 184h day of December , 1996 between the Federal Democratic Republic of Ethiopia and the European Invest ment Bank . Power of the Minister of Finance The Minister of Finance is hereby empowered to undertake all acts necessary for the utilization of the loan amount of 10 million ECU ( ten million ECU ) in accordance with the terms and conditions set forth in the Loan Agreement . Effective Date This Proclamation shall enter into force as of the 3 " day of July , 1997 . Done at Addis Ababa , this 3rd day of July , 1997 . PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA AfricanLawArchive . nm www . AfricanLawArchive . com * * * The African Law Archive * * * www . AfricanLawArchive . com