Act No. 206/An/17/7Th Ratifying Loan Agreements Between The Republic Of Djibouti And The Islamic Development Bank For The Construction And Equipment Project Of The General Hospital.

Original Language Title: Loi N° 206/AN/17/7ème L portant ratification de conventions de prêt entre la République de Djibouti et la Banque Islamique de développement pour le projet de construction et d'équipements de l'Hôpital Général.

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.
Act No. 206/AN/17/7th L ratifying loan agreements between the Republic of Djibouti and the Islamic Development Bank for the construction and equipment project of the General Hospital.


VU The Constitution of 15 September 1992;
VU Law No.92/AN/10/6th L of 21 April 2010 revising the Constitution;
VU Law No. 212/AN/07/5th The establishment of the National Social Security Fund (NCS);
VU Law No.160/AN/12/6th The reorganization of the Ministry of Economy and Finance in charge of Industry and Planning;
VU Law No. 24/AN/14/7th L of February 05, 2014 establishing a system of Universal Health Care;
VU Law No. 58/AN/14/7th L of 06 December 2014 adopting the “Vision Djibouti 2035” and its Operational Action Plans;
VU Decree No.2015-290/PR/MEFCI of 24 October 2015 adopting the National Development Plan SCAPE;
VU Decree No.2016-109/PRE of 11 May 2016 appointing the Prime Minister;
VU Order No.2016-110/PRE of 12 May 2016 appointing members of the government;
VU Decree No.2016-148/PRE of 16 June 2016 establishing the powers of the Ministries;
VU Circular No.398/PAN of 22/10/2017 convening the 1st Public Meeting of the 2nd Ordinary Session of 2017/2018;

The Council of Ministers heard at its meeting on 19 September 2017.

Article 1: Is ratified the Loan Agreement of 17.850.000.000.00 D.I (ten seven million eight-hundred fifty thousand Islamic Dinars) is the equivalent of USD (twenty-five million American dollars) signed on 02 April 2017 between the Republic of Djibouti and the Islamic Development Bank (IDB) and intended for the financing of the construction of the General Hospital.

Article 2: The terms of the loan are subject to the terms of Islamic loans with a 25-year repayment period, of which 7 years of grace and an estimated amount on the date of the agreement of 1.228.716 DI (one million two hundred and twenty eight thousand seven hundred and sixteen thousand Islamic Dinars) for administrative costs is payable as soon as the agreement comes into force.

Article 3: Is ratified the Temporary Sales Agreement between the Republic of Djibouti and the IDB signed on 02 April 2017 providing the Republic of Djibouti with a loan of 30.860.000.00 USD (eight million eight-hundred sixty thousand US dollars) for the acquisition of all medical and non-medical equipment listed in the Agreement of Sale.

Article 4: The refund period is ten (10) years with a grace period of three(3) years and a profit margin equivalent to the 6-month Libor floating rate payable during the grace period plus 130 basis points. At the end of the grace period, the profit margin will be equivalent to the SWAP Libor rates payable during the refund period plus 130 basis points.

Article 5: Ijarah Services Agreement is ratified, in the amount of USD (four million hundred and fifty thousand American dollars) signed on 02 April 2017, by the Republic of Djibouti and the Islamic Development Bank and intended to finance the provision of services for the operation of the General Hospital.

Article 6: The IDB Refund covers an amount of 5.487.798.00 USD (five million four hundred four twenty seven thousand seven seven hundred four twenty ten eight United States dollars) corresponding to the Service Price, calculated on the basis of the cost of the service supported by the IDB plus a profit margin equivalent to the Swap rate of 6 months Libor payable during the refund period and taking into account the capital amortization more than 130 points of
The cost of the service will be determined on the basis of all disbursements at the end of the preparation period four (4) years after the first disbursement plus a profit margin at the 6-month floating rate Libor plus 130 basis points per year applied on each disbursement.

Article 7: This Act will be registered upon promulgation.

Done in Djibouti on 08/11/2017

President of the Republic,
Head of Government