Law No. 157 Of 28 July 1998

Original Language Title:  LEGE nr. 157 din 28 iulie 1998

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Law No. 157 of 28 July 1998 on ratification of the loan agreement between Romania and the international economic cooperation fund-Japan development project of the port of Constanta-South, signed at Tokyo on 27 February 1998 PARLIAMENT ISSUING published in MONITORUL OFICIAL nr. 300 from 14 august 1998 Parliament adopts this law.


Article 1 shall ratify the loan agreement between Romania and the international economic cooperation fund-Japan development project of the port of Constanta-South, signed at Tokyo on 27 February 1998, hereinafter referred to as the agreement, in the amount of EUR 12,800 million Japanese yen.


Article 2 the implementation of the agreement will be carried out by the Port Administration, designated as the implementing agency.


Article 3 the Ministry of finance will conclude with an agreement the Administration Port of subimprumut, through which it has delegated the authority and responsibility for the entire implementation of the project.


Article 4 the Romanian Government's Contribution to the realization of the project, as well as the funds needed payback, payment of interest, commissions and other costs incurred in foreign loan will be secured from own sources of the Port Administration, the final beneficiary of the loan, and, in addition, from the State budget through the budget of the Ministry of transport.


Article 5 authorizes the Government, through the Ministry of finance, jointly with the international economic cooperation fund to introduce, during use of the loan in relation to the conditions of the agreement, amendments to its content, relating to changes in the structure of the loan, and any other details and changes that are not of the nature to increase Romania's financial obligations towards International economic cooperation fund or to determine new economic condiţionalitati against those agreed initially between the parties.
This law was adopted by the Senate at its meeting on 30 June 1998, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. SENATE CRISTIAN DUMITRESCU this law was adopted by the Chamber of deputies at its meeting of 9 July 1998, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. CHAMBER of DEPUTIES PRESIDENT PAULA IVANESCU AGREE 27/02/1998