Act No. 126/An/16/7Th Ratifying The Loan Agreement For The Project Supporting The Realization Of Socio-Economic Infrastructures And The Promotion Of Economic Activities In The Regions (Parize).

Original Language Title: Loi N° 126/AN/16/7ème L portant ratification de l'Accord de prêt pour le projet d'appui à la réalisation des infrastructures socio-économiques et à la promotion des activités économiques dans les régions (PARISER).

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Act No. 126/AN/16/7th L ratifying the Loan Agreement for the Project to Support the Achievement of Socio-Economic Infrastructure and the Promotion of Economic Activities in the Regions (PARISER).


VU The Constitution of 15 September 1992;
VU Decree No.2013-044/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 Decree No.2013-058/PRE of 14 April 2013 establishing the powers of the Ministries;
VU Circular No.19/PAN of 20/01/16 calling for the fourth public session of the 2nd Ordinary Session of the year 2015/2016;
The Council of Ministers heard in its meeting of 29 December 2015.

Article 1: Is ratified a loan agreement of seven million five hundred thousand units of account (7.500.000 UC), between the Republic of Djibouti and the African Development Fund (FAD).

Article 2: This loan agreement is part of the programme to support the realization of socio-economic infrastructure and the promotion of economic activities in the regions (PARISER).

Article 3: The annual interest rate on the principal amount of the disbursed and unpaid loan is 1% (one percent). A service commission at a rate of three-quarters of one percent (0.75%) per year on the principal amount of the loan disbursed and not yet refunded must be paid.

A commitment commission at a rate of one-half per cent (0.50%) per year on the undisbursed portion of the loan, will begin to run one-hundred-and-twenty (120) days after the date of signing the agreement and will also have to be paid.

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

Done in Djibouti on 26/01/2016

President of the Republic,
Head of Government