OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA 7th Year No. 32 ADDIS ABABA - 28th June , 2001 CONTENTS Proclamation No. 244/2001 Arab Bank for Economic Development in Africa Loan Agreement for Financing the Dembi - Bedele Road Project Ratification Proclamation .. Page 1532 PROCLAMATION No. 244/2001 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 Agreemerit , between the Federal Democratic Republic of Ethiopia and the Arab Bank for Economic Development in Africa stipulating that the Arab Bank for Economic Development in Africa provide to the USD 9,200,000 ( nine million two hundred thousand United States Dollars ) for financing the Dembi- Bedele Road Project was signed in Cairo , on the 22nd day of February , 2001 ; 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 NOW , THEREFORE , in accordance with Article 55 ( 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 Financing the Dembi - Bedele Road Project Ratification Unit Price The African Law Archive – No. 32 28 June , 2001Page 1533 2. Definition In this Proclamation “ Loan Agreement ' ' means the Loan Agreement signed in Cairo , between the Federal De mocratic Republic of Ethiopia and the Arab Bank for Economic Development in Africa , on the 22nd day of February , 2001 . 3. 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 USD 9,200,000 ( nine million two hundred thousand United States Dollars ) in accordance with the terms and conditions set forth in the Loan Agreement . Effective Date This Proclamation shall enter into force as of the 28th day of June , 2001 . Done at Addis Ababa , this 28th day of June , 2001 . PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA AfricanLaw Vaive.com The African Law Archive