Act No. 122/An/21/8Th Ratifying The Supplementary Agreement On The Restructuring Of The Loan Relating To The Construction Of The New Djibouti-Ethiopia Railway Line.

Original Language Title: Loi N° 122/AN/21/8ème L portant ratification de l'Accord complémentaire de restructuration du prêt relatif à la construction de la nouvelle ligne de chemin de Fer Djibouti-Ethiopie.

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Act No. 122/AN/21/8th L ratifying the Supplementary Agreement on the Restructuring of the Loan for the Construction of the New Djibouti-Ethiopia Railway Line.


VU The Constitution of 15 September 1992;
VU Constitutional Law No.92/AN/10/6th L of 21 April 2010 revising the Constitution;
VU Law No.107/AN/00/4 L of 21 October 2000 on the Laws of Finance;
VU Law No.160/AN/12/6th The reorganization of the Ministry of Economy and Finance in charge of Industry and Planning;
VU Order No.2019-095/PRE of 05 May 2019 appointing the Prime Minister;
VU Order No.2019-096/PRE of 05 May 2019 appointing members of the Government;
VU Decree No.2019-116/PRE of 26 May 2019 establishing the powers of the Ministries;
VU Circular No.105/PAN of 19 May 2021, convening the National Assembly in the second public session;
The Council of Ministers heard at its meeting on 02 February 2021.

Article 1: Is ratified the Complementary Agreement for the Restructuring of the Loan for the Construction of the New Line of the Railway linking Djibouti to Ethiopia.

Article 2: The purpose of this Agreement is to provide debt sustainability and to adjust the credit repayment schedule.

Article 3: The supplementary restructuring agreement consists mainly of:
* Extension of a maturity period of 30 years including 10 years of grace starting from February 2015 to January 2045;
* Revision of the interest rate based on liberate 6 months with a margin reduced to 2.1% per year.

Article 4: This Act will be published in the Official Journal of the Republic of Djibouti on its promulgation.

Done in Djibouti on 02/06/2021

President of the Republic,
Head of Government