Act No. 40/An/14/7Th Approving The Loan Agreement Signed Between The Republic Of Djibouti And The Export-Import Bank Of The People\'S Republic Of China For The Financing Of The Project.

Original Language Title: Loi N° 40/AN/14/7ème L portant approbation de l'accord de prêt signé entre la République de Djibouti et la Banque Export-Import de la République Populaire de Chine pour le financement du projet de...

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Act No. 40/AN/14/7th L approving the loan agreement signed between the Republic of Djibouti and the Export-Import Bank of the People's Republic of China for the financing of the construction of offshore water infrastructure.


VU The Constitution of 15 September 1992;
VU Constitutional Law No.92/AN/10/6th L of 21 April 2010 revising the Constitution;
VU Law No.160/AN/12/6th L of 9 June 2012 reorganizing the Ministry of Economy and Finance in charge of Industry;
VU Decree No.2013-0044/PRE of 31 March 2013 appointing the Prime Minister;

VU Decree No. 2013-045 of 31 March 2013 appointing members of the Government;
VU Decree No.2013-0058/PRE of 14 April 2013 establishing the responsibilities of departments;
VU Circular No. 27/PAN of 27/01/2014 convoking the National Assembly in public session;

The Council of Ministers heard in its meeting on 07 January 2014.

Article 1: Is approved the loan agreement annexed to this Act, concluded on September 11, 2013 between the Republic of Djibouti and the Export-Import Bank of the People's Republic of China in the amount of three hundred and thirty two million fifty thousand U.S. dollars (332.050.000 USD) for the financing of the construction project of water in the Shinilé area of the Somali Region of the Democratic Federal Republic of Ethiopia.
The conditions of the loan are concessional with a maturity period of 20 years including a grace period of 7 years, an annual interest rate of 2%, all amounts removed from the loan and not refunded, a management commission of 0.25 % and a commitment commission of 0.25 %.

Article 2: This Act will be published in the Official Journal of the Republic of Djibouti upon promulgation.

Done in Djibouti, 06/02/2014

President of the Republic,
Head of Government