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Act No. 60/An/14/7Th Ratifying The Financing Agreement Of The Project Of Construction Of The Port Of Tadjourah With The Fund Of The Opep For International Development (Ofid).

Original Language Title: Loi N° 60/AN/14/7ème L portant ratification de l'accord de financement du projet de construction du Port de Tadjourah avec le Fonds de l'OPEP pour le Développement International (OFID).

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Act No. 60/AN/14/7th L ratifying the financing agreement for the construction project of the Port of Tadjourah with the OPEP Fund for International Development (OFID).

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.119/PAN dated 07/06/14 convening the second public session of the 1st Ordinary Session of the year 2014;

The Council of Ministers heard at its meeting on 25 April 2014.

Article 1: Is ratified the loan agreement between the Republic of Djibouti and the OPEP Fund for International Development (OFID) on 20 February 2014 concerning the acquisition of the operating equipment of the Port of Tadjourah for a total amount of 7 million US dollars corresponding to 1,244.000.000 Fdj.

Article 2: The project is part of the construction of the Port of Tadjourah, which aims to develop the port infrastructure of the Republic of Djibouti in order to cope with the growing demand for maritime traffic but also to contribute to the economic and social development of the country and in particular of the northern regions.

Article 3: The conditions of the loan are concessional with a 20-year repayment period with a 5-year grace period, an annual interest rate of 2% and a 1% engagement commission.

Article 4: This Act will be published in the Official Journal of the Republic of Djibouti upon promulgation.
Done in Djibouti on 23/06/2014

President of the Republic,
Head of Government
ISMAÏL OMAR GUELLEH