Law No. 2013-020 Authorizing The Ratification Of The Loan On The Financing Of Agricultural Infrastructure Rehabilitation Project Of The South West Region Agreement (Priaso) Concluded July 8, 2013 Between The Republic Of Madagascar And The Bank ...

Original Language Title: Loi n°2013-020 autorisant la ratification de l’Accord de Prêt relatif au financement du Projet de Réhabilitation des Infrastructures Agricoles de la Région Sud Ouest (PRIASO) conclu le 08 juillet 2013 entre la République de Madagascar et la Banque...

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Read the untranslated law here: http://www.assemblee-nationale.mg/wp-content/uploads/2013/12/Loi-n°2013-020_fr.pdf

Law No. 2013-020
authorizing the ratification of the Loan on the financing of Agricultural Infrastructure Rehabilitation Project of the South West Region Agreement (PRIASO)
concluded July 8, 2013 between the Republic of Madagascar and the African Development Bank (ADB), acting as a director
the Nigeria Trust Fund

EXPLANATORY MEMORANDUM Following the request of the Malagasy Government, the African Development Bank (ADB), acting as director of the Nigeria Special Fund granted him funding Rehabilitation Project Agricultural Infrastructure (PRIASO) in the amount of SIX MILLION FIVE HUNDRED THOUSAND UNITS oF ACCOUNT (6,500,000 UC), equivalent to NINE MILLION SEVEN HUNDRED FIFTY THOUSAND DOLLARS ($ 9,750,000), about TWENTY oNE BILLION FIVE HUNDRED MILLION ARIARY (21 500 000 000 MGA).
The Loan Agreement was entered thereon July 8, 2013, for a hard ed 5 years.

PURPOSE GENERAL PROGRAMME The project aims to improve the socio-economic conditions of people in the Southwest region of Madagascar.
In fact, they have strongly égradées under the combined effect of the reduction of pro-poor spending, following the political crisis the country is experiencing since 2009, and the extreme vulnerability of the region to climate change with cyclones and droughts more frequent.

COMPONENTS The Project includes three components below:
development of agricultural infrastructure; 1. capacity building and agricultural development; 2. Management, coordination and monitoring of Projet.3.
(Cf - Project description in Annex -1 Details of the Loan Agreement)
KEY ACCOMPLISHMENTS EXPECTED PROJECT
Support for the development of 13,400 ha of land;  Construction 74 km of main channels;  The rehabilitation of 40 km seawall of 5800 ha of irrigated land ; The construction of 32 km of slopes;  the completion of 12 boreholes;  the construction of 12 warehouses;  building 3 ruraux. markets and support the issuing of land titles for farmers occupying an area of ​​5 000 ha. The project will benefit an estimated population of nearly 105,000 people, half are women; it will generate additional production estimated at 55 000 tonnes of cereals.

FINANCING PLAN Sources Amount (Million UA) Instrument ADF Loan 18,300 6,500 FSN Ready GEF Don Government 4,076 3,210 Total cost 32.086
FINANCIAL CONDITIONS OF THE LOAN FSN
total amount of 6.5 million equivalent CPU to $ 9.75 million, or about 21.5 billion MGA, including:
total repayment duration: 20 years after a grace period of 7 ans. Commission service: the rate of three-quarter of one percent  (0 75%) of the disbursed and outstanding loan amount.
Commitment: the rate of one half of one percent  (0.50%) per annum on the amount of undisbursed loan commences in 120 days after the signing of the Agreement. Repayment of principal and payment of the Committee  service and commitment charge shall be paid every six months on 15 April and 15 October of each year.
IMPLEMENTING AGENCY
The Regional Directorate of Rural Development Atsimo Andrefana (DRDR Atsimo Andrefana). INTERVENTION ZONE

The Southwest region of Madagascar.
THE CLOSING DATE: December 31, 2018.
Under article 137, paragraph II of the Constitution, "the ratification or approval of treaties involving the finances of the State must be authorized by the law ".
This is the purpose of this Act. Law No. 2013-020

authorizing the ratification of the Loan on the financing of Agricultural Infrastructure Rehabilitation Project of the South West Region Agreement (PRIASO)
concluded July 8, 2013 between the Republic Madagascar and the African Development Bank (ADB), acting as a director
the Nigeria Trust Fund
Congress of the Transition and the High Council of the Transition adopted in their meetings dated 4 December 2013 and 10 December 2013, the law which reads as follows:

Article: Is authorized the ratification of the Loan Agreement on the financing of the rehabilitation project of Agricultural In the Southwest Region (PRIASO), signed July 8, 2013 between the R epublic of Madagascar and the Bank African Development on a loan in the amount of SIX MILLION FIVE HUNDRED THOUSAND UNITS oF ACCOUNT (UA 6.5 million) equivalent to NINE MILLION SEVEN HUNDRED FIFTY THOUSAND DOLLARS ($ 9,750,000) or about TWENTY oNE BILLION FIVE HUNDRED MILLION ARIARY (21 500 000 000 MGA).
Article 2 This law shall be published in the Official Journal of the Republic.
It will be enforced as a law of the state.
Antananarivo, December 10, 2013
THE PRESIDENT OF THE BOARD OF THE PRESIDENT OF THE CONGRESS OF THE TRANSITION OF THE TRANSITION
Rasolosoa Dolin RAKOTOARIVELO Mamy