Law No. 2011‐001 Authorizing The Ratification Of The Loan Agreement Concluded On January 22, 2009 Between The Republic Of Madagascar And The African Development Fund For Financing Additional Of The Project Of Rehabilitation Of The Perimeter Of The Bo...

Original Language Title: Loi n°2011‐001 autorisant la ratification de l’Accord de Prêt conclu le 22 janvier 2009 entre la République de Madagascar et le Fonds Africain de Développement relatif au Financement Additionnel du Projet de Réhabilitation du Périmètre du Bas...

Read the untranslated law here: https://www.global-regulation.com/law/madagascar/5960959/loi-n2011001-autorisant-la-ratification-de-laccord-de-prt-conclu-le-22-janvier-2009-entre-la-rpublique-de-madagascar-et-le-fonds-africain-de-dveloppem.html

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Microsoft Word - law n ° 2011 - 001.doc 1 REPOBLIKAN'I MADAGASIKARA Fitiavana‐Tanindrazana‐Fandrosoana law No. 2011‐001 authorizing the ratification of the loan agreement concluded on January 22, 2009 between the Republic of Madagascar and the African Development Fund relative to the funding additional of the project of Rehabilitation of the perimeter of the bottom Mangoky explanatory the fight against poverty is one of the main objectives of the Government of Madagascar.  In this context, the African Development Fund (ADF) has granted to the Republic of Madagascar an additional funding in the amount of 15,000,000 CPU as its contribution to the financing of the project of Rehabilitation of the perimeter of the bottom Mangoky.   
OBJECT of the program the objective of the project is the sustainability of the achievements of the initial project and the strengthening of food security through the extension of rice the Mangoky bottom perimeter.    COMPONENTS of the project the project includes four components below: 1) rehabilitation of irrigation infrastructure;  (2) support for the development of the perimeter;  (3) opening up; and (4) support for the management of the project. 
    • Amount financial terms: 15 000 000 UC approximately 41 004 600 000 Ariary.  • Repayment term: 50 years including 10 years grace.  • Repayment of principal: semi-annual payments payable on 1 April and 1 October of each year.  • Service commission: annual rate of three-quarters of one percent (0.75%) of the total amount disbursed and not yet repaid. 
• Commitment fee: no annual rate of one-half of one percent (0.50%) of the amount of the loan disbursed. 
   
2 duration of the project the project closing date is December 31, 2012.      Before food insecurity plaguing our country, the implementation of this financing agreement will facilitate the increase of rice production.      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. 
3 REPOBLIKAN'I MADAGASIKARA Fitiavana‐Tanindrazana‐Fandrosoana law No. 2011‐001 authorizing the ratification of the loan agreement concluded on January 22, 2009 between the Republic of Madagascar and the African Development Fund for financing additional project of Rehabilitation of the perimeter of the bottom Mangoky the Congress of Transition, and the Superior Council of the Transition have adopted during their respective dated May 24, 2011 and may 25, 2011 , the law whose content follows: Article 1. ‐ is allowed, the ratification of the loan agreement concluded on January 22, 2009 between the Republic of Madagascar and the African Development Fund relative to the funding additional of the project of Rehabilitation of the perimeter of the bottom Mangoky of fifteen million (15,000, 000) units of account, approximately forty one billion four million SIX hundred thousand (41 004 600 000) ARIARY. 
  Article 2 ‐ this Act shall be published in the Official Journal of the Republic.  It will be run as State law.   
   
Antananarivo, may 25, 2011. The PRESIDENT of the Council superior of the TRANSITION RASOLOSOA Dolin. The PRESIDENT of the Congress of the TRANSITION RAHARINAIVO Andrianantoandro 

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