WHEREAS, a Loan Agreement, between the Federal Democratic Republic of Ethiopia and the Arab Bank for Economic Development in Africa stipulating that the Arab Bank for Economic Development in Africa provide to the Federal Democratic Republic of Ethiopia a loan amount of USD 6,240,000 (six million and two hundred forty thousand USD) for financing the Kibre Mengist Town Water Supply project, was signed in Addis Ababa on 9th day of July, 2004;
WHEREAS, basic economic international agreements have to be ratified prior to entry into force;
WHEREAS, the House of Peoples’ Representatives of the Federal Democratic Republic of Ethiopia has ratified said Loan Agreement at its session held on the 2nd day of November, 2004;
NOW, THEREFORE, in accordance with Article 55 Sub Article (1) and (12) of the Constitution, it is hereby proclaimed as follows:
