Malawi Government Gazette dated 2018-08-24 number 24

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Industrial and Commercial Bank of China (Blantyre City Bypass Road Project)
No. 24 Loan (Authorization) I

MALAWI GOVERNMENT

(Published 24th August, 2018)

Act

No. 24 of 2018

I assent

PROF. ARTHUR PETER MUTHARIKA
PRESIDENT
20th August, 2018

ARRANGEMENT OF SECTIONS
SECTION
I . Short title
2. Authority to borrow the sum of US$104,550,000
3. Application of the loan
4. Repayment charged on the Consolidated Fund
5. Exemptions from taxes, charges, etc.
6. Finalization and signature of the Agreement

An Act to authorize Government to borrow from the Industrial
and Commercial Bank of China sums of money in the
equivalent of one hundred and four million five hundred and
fifty thousand United States Dollars (US$104,550,000)
ENACTED by the Parliament of Malawi as follows-
1. This Act may be cited as the Industrial and Commercial Short title
Bank of China (Blantyre City Bypass Road Project) Loan
(Authorization) Act, 2018.
2.-{ 1) The Minister of Finance, Economic Planning and Authority to
Development on behalf of the Government, is hereby authorized to borrow the
borrow from the Industrial and Commercial Bank of China sums of sum of
US$ I 04,550,
money in the sum of one hundred and four million, five hundred and 000
fifty thousand United States Dollars (US$ I 04,550,000) for· the
purpose specified in section 3 at the times and upon the terms and
conditions which the Minister may, in his discretion, agree with the
Industrial and Commercial Bank of China.