Law N ° 2013-022 Authorizing The Ratification Of The Loan Agreement On The Financing Of The Project Of Support To The Institutional Governance (Pagi)

Original Language Title: Loi n°2013-022 autorisant la ratification de l’Accord de Prêt relatif au financement du Projet d’Appui à la Gouvernance Institutionnelle (PAGI)

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Read the untranslated law here: http://www.assemblee-nationale.mg/wp-content/uploads/2013/12/Loi-n°2013-022_fr.pdf

Law n ° 2013-022 authorizing the ratification of the loan agreement on the financing of the project of support to the institutional governance (PAGI) between the Republic of Madagascar and the African Development Bank (AfDB) presentation of reasons Suite at the request of the Government, the African Development Bank (ADB) has granted a loan to finance the project d ' support to the institutional governance (PAGI) d ' an amount of four million three hundred twenty thousand units of account (4 320 000 (UC), equivalent to SIX million five hundred twenty thousand US DOLLARS (6 520 000 USD), or about 14 billion three hundred million ARIARY (MGA 14 300 000 000).
GOAL of the project to contribute to the restoration of material, technical and human capacity for mobilization of public resources, the control of expenditures, the fight against corruption and governance in the extractive sector.
COMPONENTS the project includes the following three components: improvement of the mobilization of public resources and the 1. control systems; strengthening the fight against corruption and improvement of 2. transparency in the extractive sector.
CONDITIONS financial total equivalent to USD 6 520 000 UC 4 320 000, approximately 14 300 000 000 MGA, which: total repayment duration: 40 years after a grace period of 10 years,  at the rate of one percent (1%) per year between the eleventh and twentieth years of the period, and three percent (3%) per year thereafter.
Service Commission: annual rate of three-quarters of one percent (0.75%)  on the amount of loan disbursed and not yet repaid.
Commitment fee: annual rate a half of one hundred  (0.50%) year on the amount of the loan not disbursed, starting 120 days after the signing of the agreement.
The repayment of principal and payment of the commission of  service and the commitment fee will be paid every six months, on 15 April and 15 October of each year.
BODY of running the Prime Minister will be the ' body of the project, through a unique Management Office of projects (BdG) created for this purpose.
CLOSING DATE: 31 December 2017.
Under the terms of article 137, paragraph II of the Constitution, "the ratification or approval of the treaties affecting the finances of the State must be authorized by law.
This is the purpose of this Act.
Law n ° 2013-022 authorizing the ratification of the loan agreement on the financing of the project of support to the institutional governance (PAGI) between the Republic of Madagascar and the African Development Bank (AfDB) Congress of the Transition and the Superior Council of the Transition have adopted in their respective sessions in December 04, 2013 and December 10, 2013 date , the law whose content follows: Article 1: authorized ratification of the loan agreement on the financing of the project d ' support institutional governance (PAGI), concluded on 18 November 2013 between the Republic of Madagascar and the African Development Bank, on a loan of an amount of four million three hundred twenty thousand units of account (UA 4 320 000) equivalent to SIX million five hundred twenty thousand US DOLLARS (6 520 000 USD), or about 14 billion three hundred million ARIARY (MGA 14 300 000 000).
Article 2 - This Act shall be published in the Official Journal of the Republic.
It will be run as State law.
Antananarivo, December 10, 2013. The PRESIDENT of the superior the PRESIDENT of the Congress the Transitional Council, the transitional, RASOLOSOA Mamy RAKOTOARIVELO Dolin