REPOBLIKAN'I MADAGASIKARA Tanindrazana-Fahafahana-Fandrosoana - law n ° 2005-038 authorizing the ratification of the agreement of credit agreement between the Republic of Madagascar and the African Development Fund on the project of support to the communities of fishermen of Toliary presentation of reasons in order to proceed with the financing of the project of support to the communities of fishermen of Toliary, the Republic of Madagascar has an agreement of loan in an amount of 6.325.000 units of account , approximately ten eight billion SIX hundred thirty seven million one hundred ten eight thousand five hundred (18.637.118.500) MGA with the African Development Fund.
I - Objectives the project aims to: reduce poverty in rural areas; - promote the sustainable development of traditional fishing - marine through the strengthening of organizations of the beneficiaries and the State services; improve the management of fisheries resources; - provide adequate equipment to the fishermen - II - components of the project the project includes the following main parts: capacity-building; - development and sustainable management of resources; - development of the production; - coordination and management of the project. - financial III-CONDITIONS of the loan amount: 6.325.000 units of account, approximately ten eight billion SIX hundred thirty seven million one hundred ten eight thousand five hundred (18.637.118.500) ARIARY. Duration: 40 years after a grace period of 10 years. Repayment of principal: equal and consecutive semi-annual payments. Service charge: 0.75% on the amount disbursed and outstanding. Commitment fee: 0.5% on the amount of the undisbursed loan starting one hundred twenty (120) days after the signing of the agreement.
IV duration of the project the project closing date is set on December 31, 2012. Under the terms of article 82, paragraph VIII 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.
2 REPOBLIKAN'I MADAGASIKARA Tanindrazana-Fahafahana-Fandrosoana - law n ° 2005-038 authorizing the ratification of the agreement of credit agreement between the Republic of Madagascar and the African Development Fund on the project of support to the communities of fishermen of Toliary. the National Assembly and the Senate have adopted during their respective dated December 21, 2005 and December 22, 2005, the law whose content follows : Article first - is authorized, the ratification of the credit agreement concluded between the Republic of Madagascar and the African Development Fund on the project of support to the communities of fishermen of Toliary in the amount of SIX million three hundred twenty five thousand (6 325 000) units of account so it about ten eight billion SIX hundred thirty seven million CENT ten eight thousand five hundred (18 637 118 500) ARIARY.
Article 2 - This Act shall be published in the Official Journal of the Republic. It will be run as State law.
Antananarivo, December 22, 2005 the PRESIDENT of the Assembly national the PRESIDENT of the Senate LAHINIRIKO Jean RAJEMISON RAKOTOMAHARO 3