Act No. 193/An/12/6Th Ratifying The Guarantee Agreement Signed Between The Republic Of Djibouti And The Fades.

Original Language Title: Loi N° 193/AN/12/6ème L portant ratification de la convention de garantie signée entre la République de Djibouti et le FADES.

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Law No. 193/AN/12/6th L ratifying the guarantee agreement signed between the Republic of Djibouti and the FADES.


VU The Constitution of 15 September 1992;
VU Decree No. 2011-0066/PRE of 11 May 2011 appointing the Prime Minister;
VU Decree No. 2011-0067/PRE of 12 May 2011 appointing members of the Government;
VU Decree No. 2011/0076/PRE establishing the powers of the Prime Minister and members of the Government;
VU Circular n°260/PAN dated 09/12/12 convening the fourth public session of the 2nd Ordinary Session of the year 2012/2013;

The Council of Ministers heard in its meeting of 30 December 2012.

Article 1: Is ratified the loan guarantee agreement on the line of credit of USD 10 million between the Arab Fund for Economic and Social Development (FADES) and the Djibouti Economic Development Fund (FDED) concluded on October 21, 2012.

Article 2: This line of credit will allow FDED to strengthen its financing activities for small and medium-sized enterprises launched in 2009. This project aims to promote the private sector by supporting young entrepreneurs who have the skills to carry out viable business projects.

Article 3: The annual interest rate is 2% with a 7-year reimbursement period (15 semi-annual maturity), a grace period of 3 years and finally a maturity period: 10 years.

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

Done in Djibouti, on 30/12/2012

President of the Republic,
Head of Government