Act No. 57/An/19/8Th On Ratification Of The Financing Agreement For The Construction Project Of The Submarine Telecommunications Cable In Jibuti (Dare-1).

Original Language Title: Loi N° 57/AN/19/8ème L portant ratification de l'Accord de financement pour le projet de construction du câble sous-marin de télécommunication à Djibouti (Dare-1).

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Act No. 57/AN/19/8th L ratifying the Financing Agreement for the Construction of the Underwater Telecommunication Cable in Djibouti (Dare-1).


VU The Constitution of 15 September 1992;
VU Constitutional Law No.92/AN/10/6th L of 21 April 2010 revising the Constitution;
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/2019 of 26 May 2019 establishing the powers of the Ministries;
VU the Circular n°146/PAN of 7/07/2019 convening the Extraordinary Session of the AN 2019;
The Council of Ministers heard in its meeting of 25 June 2019.

ARTICLE 1: Is ratified a temporary sales loan agreement of 38.830,000 USD (eight-eight million eight hundred and thirty thousand dollars from the United States of America), between the Republic of Djibouti and the Islamic Development Bank.

Article 2: This agreement is part of the financing of the submarine cable construction project in Djibouti.

Article 3: The Republic of Djibouti undertakes to pay to the seller the selling price over a period of seventeen (17) years from the end of the preparation period of three (3) years in accordance with the schedule that the seller must provide to Djibouti with the offer of sale. Payment must be made in thirty-four (34) semi-annual, equal and consecutive deadlines. The first deadline will be due after six (6) months from the end of the preparation period and each subsequent payment will be due after a period of (6) months from the date of the previous payment, knowing that the period between the first disbursement and the last maturity period cannot exceed twenty (20) years.

Article 4: This Act will be published as soon as it is promulgated and enforced as a State Law.

Done in Djibouti, 23/07/2019

President of the Republic,
Head of Government