OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA 12 Year No. 25 ADDIS ABA13A 7 June , 2006 CONTENTS Proclamation No. 490/2006 Arab Bank for Economic Development in Africa Loan Ratification Proclamation .... Page 3410 PROCLAMATION NO . 490/2006 . 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 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 Project was signed in Khartoum , on the 16th day of November 2005 ; WHEREAS , basic Economic International agreements have to be ratified prior to entry into force ; WHEREAS , the House of Peoples ' Representatives 234 day of May , 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 “ Arab Bank for Economic Development in Africa Loan Agreement for financing the Assosa - Kurmuk Road Project Ratification Proclamation No.490 / 2006 . " Unit Price The African Law Archive 2006 ... page 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 16 " day of November 2005 is ratified . 3. Power of the Minister of Finance and Economic Development Minister Finance Economic Development is hereby empowered to undertake all acts necessary for the utilization of the loan amount of 6,500,000 USD ( Six million five hundred thousand United States Dollars ) in accordance with the terms and conditions set forth in the Loan Agreement . Effective Date This Proclamation shall enter in to force up on Done at Addis Ababa , this 7th day of June , 2006 in LawArchive.com PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA The African Law Archive