OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA 3 Year No . 10 ADDIS ABABA - 12 Dec . 1996 CONTENTS Proclamation No . 53 / 1996 Opec Fund for International Development Loan Agreement for Financing the Teacher Training Institutes Project Ratification Proclamation Page 290 PROCLAMATION NO . 53 / 1996 A PROCLAMATION TO RATIFY THE LOAN REPUBLIC OF ETHIOPIA AND THE OPEC FUND FOR INTERNATIONAL DEVELOPMENT WHEREAS , a Loan Agreement , between the Federal International Development provide to the Federal Democratic Republic of Ethiopia a loan amount of 7 , 000 , 000 USD ( Seven Million United States Dollars ) for Financing the Teacher | 15 day of July , 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 12h day of December , 1996 ; NOW , THEREFORE , in accordance with Article 55 sub - Articles ( 1 ) and ( 12 ) of the Constitution , it is hereby proclaimed as follows : This Proclamation may be cited as the " Opec Fund for International Development Loan Agreement for Finan cing the Teacher Training Institutes Project Ratification Proclamation No . 53 / 1996 . ” ' Unit Price www . AfricanLawArchive . com * * * The African Law Archive * * * www . AfricanLawArchive . com 2 . Definition In this Proclamation “ Loan Agreement ” means the Loan Agreement No . 659P signed in Addis Ababa , on the 15th day of July 1996 between the Federal Democratic Republic of Ethiopia and the Opec Fund for International Development The Minsiter of Finance is hereby empowered to under take all acts necessary for the utilization of the loan amount of 7 , 000 , 000 USD ( Seven 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 as of the 12 ' h day of December , 1996 . Done at Addis Ababa , this 12th of December , 1996 . PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA proc 53 page 1 / 07 African www . AfricanLawArchive . com * * * The African Law Archive * * * www . AfricanLawArchive . com