OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA 12 Year No. 33 ADDIS ABABA 29th June , 2006 CONTENTS Proclamation No. 497/2006 Arab Bank for Economic Development in Africa Loan Wolliso Area Ratification Proclamation .... Page 3433 PROCLAMATION NO . 497/2006 . 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 Agreement , between the Federal Economic Development in Africa stipulating that the Arab Bank for Economic Development in Africa provide to the States Dollars ) for financing Rural Electrification Project in WHEREAS , the House of Peoples ' Representatives of the Federal Democratic Republic of Ethiopia has ratified said Loan Agreement at its session held on the 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 “ Arab Bank for Economic Development in Africa Loan Agreement for Financing Rural Electrification Project in Wolliso Area Ratification Proclamation No. 497/2006 . ” Unit Price The African Law Archive 2. Ratification of the Agreement The Loan Agreement signed between the Federal democratic Republic of Ethiopia and the Arab Bank for Economic Development in Africa on the 5th day of March 2006 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 USD 3,6000,000 ( three million six hundred thousand United State Dollars ) in accordance with the terms and conditions set forth in the Loan Agreement . Effective Date This Proclamation shall enter into force on the date of its publication in the Federal Negarit Done at Addis Ababa , this 29th day of June , 2006 PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA The African Law Archive *