East African Development Bank Act

Section 1. Interpretation Section In this Act, unless the context otherwise requires, " Minister " means the Minister responsible for finance.

Section 2. Financial provisions Section 2(1) There shall be charged on and paid out of the Consolidation Fund without further appropriation than this Act, all payments required to be made from time to time by the Government to the bank under the terms of the Treaty of 1980. Section 2(2) For the purpose of providing any sums required for making payments under this section, the Minister may, on behalf of the Government, make such arrangements as are necessary, or raise loans by the creation and issue of securities bearing such rates of interest and subject to such conditions as repayment, redemption or otherwise as he or she thinks fit, and the principal and interest of the securities and the charges and expenses incurred in connection with their issue shall be charged on and issued out of the Consolidation Fund. Section 2(3) Any monies received by the Government from the bank or raised under subsection (2) shall be paid into and form part of the Consolidated Fund and shall be available in any manner in which the Consolidated Fund is available.

Section 3. Certain provisions of the charter to have the force of law Section The provisions of the charter annexed to the Treaty of 1980 and set out in the Schedule to this Act have the force of law in Uganda.