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Act No. 70/An/14/7Th Ratifying The Financing Agreement For The Sme/Mi Development Project.

Original Language Title: Loi N° 70/AN/14/7ème L portant ratification de l'accord de financement du projet de développement du PME/PMI.

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Act No. 70/AN/14/7th L ratifying the financing agreement for the SME/MI development project.

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 of 31 March 2013 appointing the Prime Minister;
VU Order No.2013-0045 of March 31, 2013 appointing members of the government;
VU Decree No.2013-0058/PRE of 14 April 2013 establishing the powers of the Ministries;
VU Circular No. 222/PAN dated 08/11/14 convening the first public session of the 2nd Ordinary Session of the year 2014.

The Council of Ministers heard in its meeting of 23/09/2014.

Article 1: A loan agreement of 20 million US dollars is ratified between the Republic of Djibouti and the Arab Fund for Economic and Social Development (FADES).

Article 2: This funding is part of the Government of Djibouti's efforts to promote the private sector through 1600 SME/IP projects, including 400 young graduate projects.

Article 3: The conditions of the pret are concessional with a reimbursement period of 8 years with an annual interest rate of 2%.

Article 4: This Act will be published in the Official Journal of the Republic of Djibouti upon promulgation.
Done in Djibouti on 06/12/2014

President of the Republic,
Head of Government
ISMAÏL OMAR GUELLEH