OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA 13 Year No. 6 ADDIS ABABA 2014 December , 2006 CONTENTS Proclamation No. 506/2006 International Development Association Loan Agreement as an Additional Financing for the Second Road Sector Development Support Project Ratification Proclamation .... Page 3501 PROCLAMATION NO . 506/2006 . A PROCLAMATION TO RATIFY THE LOAN AGREEMENT BETWEEN THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA AND THE INTERNATIONAL DEVELOPMENT ASSOCIATION WHEREAS , a Loan Agreement , between the an amount not exceeding SDR 59,800,000 ( fifty nine Support Project , was signed in Addis Ababa on the 7th day of August 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 5 day of December , 2006 ; NOW , THEREFORE , in accordance with Article 55 Sub - Articles ( 1 ) and ( 12 ) of the Constitution , it is hereby proclaimed as follows : 1. Short Title Proclamation cited “ International Development Association Agreement as an Additional Financing for the Second Road Sector Development Support Project Ratification Proclamation No.506 / 2006 . " Unit Price 2.30 * The African Law Archive 20 December , 2006 .... 2. Ratification of the Agreement The Loan Agreement No.3989-1 - ET signed in Addis Ababa on the 7th day of August 2006 between the Federal democratic Republic of Ethiopia and the International Development Association is ratified . 3. Power of the Minister of Finance and Economic Development Minister of Finance Economic Development is hereby Empowered to undertake all acts necessary for the utilization of the loan amount of SDR 59,800,000 ( fifty nine million eight hundred thousand SDR ) in accordance with the terms and conditions set forth in the Loan Agreement . 4. Effective Date This Proclamation shall come into force up on Done at Addis Ababa , this 20th day of December , 2006 PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA * The African Law Archive *