Act No. 157/An/16/7Th On Approval Of The Loan Agreement For Participation In Financing The Construction Of The Port Of Tadjourah.

Original Language Title: Loi N° 157/AN/16/7ème L portant approbation de l'Accord de prêt pour la Participation au financement de la construction du Port de Tadjourah.

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Act No. 157/AN/16/7th L approving the Loan Agreement for Participation in the Financing of the Construction of the Port of Tadjourah.


VU The Constitution of 15 September 1992;
VU Constitutional Law No.92/AN/ 10/6th L of 21 April 2010 revising the Constitution;
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 Order No.2016-148/PRE dated 16 June 2016 establishing the responsibilities of departments;
VU Circular No.353/PAN of 14/ 11/2016 convening the 2nd Session of the 2nd Session of the Year 2016/2017.

The Council of Ministers heard in its meeting of 27/09/2016.

ARTICLE 1: It is approved, the loan agreement between the Republic of Djibouti and the Saudi Development Fund (FSD), on February 18, 2015, of an amount of twenty-two million five hundred thousand Saudi Riyals (22.500,000 SAR), or about six million US dollars ($6,000).
Article 2: This loan agreement is part of the financing of the construction project of the Port of Tadjourah.

Article 3: The duration of the FSD loan is 25 years, including 5 years of grace period. The Republic of Djibouti is committed to repaying the principal amount of the loan mobilized in accordance with a schedule annexed to the Financing Agreement.

The Republic of Djibouti undertakes to pay an annual charge at a rate of 2% on all amounts mobilised from the loan and not refunded. Loan charges are payable every 6 months each year.

Article 4: This Act shall be published as soon as it is promulgated and enforced as a law of the State.

Done in Djibouti on 20/11/2016

President of the Republic,
Head of Government