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Act No. 14/An/13/7Th Ratifying The Funding Agreement For The Project To Strengthen Livelihoods To Reduce The Vulnerability Of Natural Resources Within The Framework Of The Project.

Original Language Title: Loi N° 14/AN/13/7ème L portant ratification de l'accord de financement du projet de renforcement des moyens de subsistance pour réduire la vulnérabilité des ressources naturelles au sein des...

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Law No. 14/AN/13/7th The ratification of the funding agreement for the project to strengthen livelihoods to reduce the vulnerability of natural resources within pastoral communities in Djibouti.

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 Decree No.2013-0058/PRE of 14 April 2013 establishing the powers of the Ministries;
VU Circular No.101/PAN of 22 June 2013 calling for the National Assembly in public session;

The Council of Ministers heard at its meeting on 21 May 2013.

Article 1: Is ratified the loan agreement between the Republic of Djibouti and the Islamic Development Bank (IDB) on 17 March 2013 on the strengthening of livelihoods in order to reduce the vulnerability of natural resources within pastoral communities in Djibouti for a total amount of 10 million EU dollars corresponding to 1.8 billion FD.
Article 2: The project aims to strengthen livelihoods to reduce vulnerability and improve income, well-being and the sustainability of natural resources in the Republic of Djibouti.

Article 3: The conditions of the loans are concessional:
- with the IDB loan of 3.330,000 Islamic Dinars or 5 million US dollars with a maturity period of 25 years including a grace period of 7 years and an interest rate of 2.5 per cent;
- and the loan of the Islamic Solidarity Fund for Development (FISD) of US$5 million with a maturity period of 30 years including a grace period of 10 years and an interest rate of 1.25%.

Article 4: This Act will be published in the Official Journal of the Republic of Djibouti upon promulgation.
Done in Djibouti on 07/07/2013

President of the Republic,
Head of Government
ISMAÏL OMAR GUELLEH