Act No. 131/An/16/7Th Ratifying A Loan Agreement For The Expansion Project Of The Port Of Tadjourah.

Original Language Title: Loi N° 131/AN/16/7ème L portant ratification d'un accord de prêt pour le projet d'expansion du Port de Tadjourah.

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Act No. 131/AN/16/7th L ratifying a loan agreement for the expansion project of the Port of Tadjourah.

NATIONAL ASSEMBLEE A ADOPTETHE PRESIDENT OF THE PROMULGUE REPUBLICI'll tell you what.





VU The Constitution of 15 September 1992;
VU Decree No.2013-0044/PRE of 31 March 2013 appointing the Prime Minister;
VU Decree No.2013-0045/PRE of 31 March 2013 appointing members of the Government;
VU Circular No.92/PAN of 15/03/2016 convening the second public session of the 1st Ordinary Session of the Year 2016;

The Council of Ministers heard in its meeting on 12 January 2016.


ARTICLE 1: Is ratified a loan agreement of 13 million U.S. Dollars (13 000 USD), between the Republic of Djibouti and the OPEC International Development Fund (OFID).

Article 2: This loan agreement is part of the Tadjourah port expansion project, in order to accommodate a larger export volume and larger ships, in particular to facilitate the transport of the potash.

Article 3: The annual interest rate on the principal amount of the loan is 2% (two percent). Service fees will be paid at a rate of 1% (1 percent) per year on the principal amount of the loan. Interest and service costs will be paid semi-annually as of July 15 and January 15 of each year.

Article 4: This Act will be published in the Official Journal of the Republic of Djibouti upon promulgation.

Done in Djibouti on 24/03/2016


President of the Republic,
Head of Government
ISMAÏL OMAR GUELLEH