LEGISLATIVE ASSEMBLY-REPUBLIC OF EL SALVADOR ____________________________________________________________________

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DECREE NO 673

THE LEGISLATIVE ASSEMBLY OF THE REPUBLIC OF EL SALVADOR,

CONSIDERING:

I.-That by Legislative Decree No. 571, dated December 5, 2013, published in Official Journal No. 236, Volume 401 of December 16 of the same year, this Assembly authorized the Executive Body in the Ramo de Hacienda for by his or her Holder or the representative whom he shall appoint, subscribe on behalf of the State and Government of the Republic of El Salvador a Financial Agreement with the Italian Financial Institution (IFI) Artigiancassa S. p.A, for an amount of up to TWELVE MILLION EUROS (€ 12,000,000.00), equivalent to approximately SIXTEEN MILLION TWO HUNDRED AND EIGHTY THOUSAND FOUR HUNDRED 60/100 DOLLARS FROM THE UNITED STATES OF AMERICA (US$ 16,280,400.60), to finance the "Socio-Economic and Cultural Recalification of the Historical Center of San Salvador and its Housing Function".

II.-That the said Financial Agreement was signed on February 25, 2014, by the Minister of Finance in correspondence with the authorization conferred by Legislative Decree No. 571 before related, and by the Representative of the Italian Financial Institution (IFI) Artigiancassa S. p.A on 18 March 2014.

III.-That because the requirements of legal order required in our legislation have been met, it is appropriate to approve in all its parts the Convention of Loan, which has been submitted to this Assembly, for which it has been fulfilled as set forth in Art. 148 of the Constitution of the Republic.

BY TANTO,

in use of its constitutional powers,

DECCRETA:

Art. 1.-Approve in all its parts the Financial Agreement signed with the Italian Financial Institution (IFI) Artigiancassa S. p.A, for an amount of up to TWELVE MILLION EUROS (€ 12,000,000.00), equivalent to approximately SIXTEEN MILLION TWO HUNDRED EIGHTY THOUSAND FOUR HUNDRED 60/100 DOLLARS FROM THE UNITED STATES OF AMERICA (US$ 16,280,400.60), to finance the "Socio-Economic and Cultural Recalification of the Historical Center of San Salvador and its Housing Function".

Art. 2. This Decree shall enter into force from the day of its publication in the Official Journal.

GIVEN IN THE BLUE HALL OF THE LEGISLATIVE PALACE: San Salvador, two days of the month May of the year two thousand fourteen.

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