Law No. 2013-021 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 Fund ...

Original Language Title: Loi n°2013-021 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 le Fonds...

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now

Read the untranslated law here: http://www.assemblee-nationale.mg/wp-content/uploads/2013/12/Loi-n°2013-021_fr.pdf

Law No. 2013-021
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 Fund (ADF)

EXPLANATORY MEMORANDUM Following the request of the Malagasy Government, the African Development Fund (ADF), acting administrator of the Nigeria Special Fund granted him funding Rehabilitation Project of Agricultural Infrastructure (PRIASO) in the amount of eIGHTEEN MILLION THREE HUNDRED THOUSAND UNITS oF ACCOUNT (18,300,000 UC), equivalent to TWENTY-SEVEN MILLION FOUR HUNDRED FIFTY THOUSAND DOLLARS ($ 27,450,000), or about SIXTY BILLION SIX HUNDRED MILLION ARIARY (60 600 000 000 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 réhabilition 40 km dike protection of 5800 hectares of land irrigated ; The construction of 32 km of slopes;  the completion of 12 boreholes;  the construction of 12 warehouses;  Construction of 3 rural markets;  And supporting the issuance of land titles for farmers  occupying an area of ​​5 000 ha. Project b énéficiera to 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 ADF LOAN
total amount of 18.3 million equivalent CPU to $ 27,450,000, or about 60.6 billion MGA including:
Total duration of repayment: 50 years including 10 years of différé. Commission service: the rate of three-quarter of one percent  (0.75 %) on 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 will be made as follows: (1%) per year between eleventh and twentieth years of the repayment period, and (3% ) per annum thereafter; payable on April 15 and 15 October.
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. 2013-021

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 Fund (ADF)
the 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 whose content 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 Fund African Development concerning a loan in the amount of eIGHTEEN MILLION THREE HUNDRED THOUSAND UNITS oF ACCOUNT (UA 18.3 million) equivalent to TWENTY-SEVEN MILLION FOUR HUNDRED FIFTY THOUSAND DOLLARS ($ 27.45 million) or approximately SIXTY SIX BILLION HUNDRED MILLION ARIARY (60 600 000 000 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