Act No. 68/An/19/8Th Ratifying The Funding Agreement For The Project To Strengthen Learning Opportunities.

Original Language Title: Loi N° 68/AN/19/8ème L portant ratification de l'Accord de financement pour le projet de renforcement des opportunités d'apprentissage.

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Act No. 68/AN/19/8th L ratifying the Financing Agreement for the Project to Strengthen Learning Opportunities.


VU The Constitution of 15 September 1992;
VU Constitution Act No. 134/AN/06/5th L of 02 February 2006 revising the Constitution;
VU Constitution Act No. 215/AN/08/5th L of 19 January 2008 revising the Constitution;
VU Constitutional Law No.92/AN/10/6th L of 21 April 2010 revising the Constitution;
VU Act No.58/AN/14/7th L of 06 December 2014 adopting the Djibouti Vision 2035 and its Operational Action Plans;
VU The Law on the Guidance of the Djiboutian Educational System;
VU Law No. 23/AN/18/8th The organization of the Ministry of National Education and Vocational Training;
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.003/PAN of 06 January 2020, convening the third public session of the 2nd Ordinary Session of the Year 2020;
The Council of Ministers heard in its meeting on Tuesday, 29 October 2019.

ARTICLE 1: Is ratified a funding agreement between the Republic of Djibouti and the International Development Association (IDA) for a project “Development of Learning Opportunities Project” at a height of 11 million SDR (15.000.000 USD equivalent or about 2.666.400.000 FDJ) signed on October 18, 2019. The funding is in the combined form of a credit (credit number 6449- DJ) at 7.300.000 SDR (10.000.000 USD equivalent, or about 1.777.600.000 FDJ) and a donation (donation number D485-DJ) equivalent to 3.700.000 SDR (5.000.000 USD equivalent, or about 888.800.000 FDJ). The financing of the project also includes a donation of USD 9.250,000, or FDJ 1.644.280,000, from the Global Partnership for Education.

Article 2: Reimbursement of the principal amount of the credit will take place over a 40-year period, including a 10-year grace period. The first refund will take place on June 15, 2029 and on June 15, 2059.
The maximum rate of the engagement commission on the undisbursed balance of the funding is half a percent (1/2 of 1% =0.5) per year.
The rate of the service commission on the disbursed balance of the credit is three-quarters of one percent (3/4 of 1% = 0.75) per year.

Article 3: This Act will be published in the Official Journal of the Republic of Djibouti as soon as it is promulgated and enforced as the State Law.

Done in Djibouti on 15/01/2020

President of the Republic,
Head of Government