FEDERAL OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA 12 Year No. 28 ADDIS ABABA 16th June , 2006 CONTENTS Proclamation No. 492/2006 Grid to the Afar Region Project Ratification Proclamation .... Page 3418 PROCLAMATION NO . 492/2006 . A PROCLAMATION TO RATIFY THE CREDIT AGREEMENT BETWEEN THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA AND THE KUWAIT FUND FOR ARAB ECONOMIC DEVELOPMENT WHEREAS , a Loan Agreement , between the Federal Arab Economic Development stipulating that the Kuwait Region Project , was signed in Addis Ababa on the 8th day of February 2006 ; WHEREAS , the House of Peoples ' Representatives 1 day of June , 2006 ; NOW , THEREFORE , in accordance with Article hereby proclaimed as follows : 1. Short Title This Proclamation may be cited as the “ Kuwait Fund For Arab Economic Development Loan Agreement for Financing Extension of the National Power Grid to the Region Project Ratification Proclamation No.492 / 2006 . ” Unit Price * * The African Law Archive 2. Ratification of the Agreement The Loan Agreement No. 717 signed in Addis Ababa on the gth day of February 2006 between the Federal democratic Republic of Ethiopia and the Kuwait Fund for Arab Economic Development 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 KD 11,000,000 ( eleven million Kuwait Dinar ) 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 16th day of June , 2006 PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA The African Law Archive