OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA 12 Year No. 32 ADDIS ABABA 29th June , 2006 CONTENTS Proclamation No. 496/2006 Saudi Fund for Development Loan Agreement for Financing the Assosa - Kurmuk Road Project Ratification Proclamation .... Page PROCLAMATION NO.496 / 2006 . A PROCLAMATION TO RATIFY THE LOAN AGREEMENT BETWEEN THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA AND THE SAUDI FUND FOR DEVELOPMENT WHEREAS , a Loan Agreement , between the Federal Democratic Republic of Ethiopia and the Saudi Fund for Saudi Ethiopia a loan amount of 24,500,000 Saudi Riyals ( twenty four million five hundred thousand Saudi Riyals ) for Addis Ababa on 6th April 2006 ; O no it WHEREAS , basic Economic International Agreements have to be ratified prior to entry into force ; WHEREAS , the House of Peoples ' Representatives the 8th day of June , 2006 ; 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 “ Saudi Fund for Development Loan Agreement for Financing the Project Ratification Proclamation No.496 / 2006 . ” Unit Price The African Law Archive 29 June , 2006 2. Definition The Loan Agreement No. 2/442 signed between the Federal Democratic Republic of Ethiopia and Saudi Fund for Development Signed in Addis Ababa on the 6th day of April is ratified . 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 credit amount of 24,500,000 Saudi Riyals ( twenty four million five hundred thousand Saudi Riyals ) in accordance with the terms and conditions set forth in the Loan Agreement . 4. , Effective Date This Proclamation shall come in to force up on Done at Addis Ababa , this 29th day of June , 2006 PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA African LawArchive.com The African Law Archive