Act No. 152/An/16/7Th Ratifying The Funding Agreement For The Developmental Response Project To The Impacts Related To The Movement In The Horn Of The Aquiric.

Original Language Title: Loi N° 152/AN/16/7ème L portant ratification de l'accord de financement pour le projet de réponse en développement aux impacts liés aux déplacements dans la Corne de l'Afrique.

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Act No. 152/AN/16/7th L ratifying the funding agreement for the development response project to the impacts related to displacement in the Horn of Africa.


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 Circular n°240/PAN of 11/07/2016 convening the Extraordinary Session of the Year 2016;

The Council of Ministers heard in its meeting of 30 June 2016.

ARTICLE 1: Is ratified a loan agreement of fourteen million five hundred thousand Special Drawing Rights ( 14.500.000 DTS), which is about twenty million US dollars (20.000.000 USD) between the Republic of Djibouti and the International Development Association, on June 6, 2016.
Article 2: This loan agreement is part of the financing of the development response project to the movement-related impacts in the Horn of Africa.

Article 3: Interests due by the Republic of Djibouti on the outstanding balance of the credit are one and one quarter per cent (1.25%) per year. The maximum rate of the commitment commission paid by the Republic of Djibouti on the undisbursed balance of the financing is half of one percent (1/2 of 1%) per year. The rate of the service commission payable on the amount disbursed from the credit is three-quarters of one percent (3/4 of 1%) per year.

Article 4: This Act will be published upon promulgation.

Done in Djibouti, 23/07/2016

President of the Republic,
Head of Government