Declaration hy the Egyptian Government.
The Government of His Highness the Khedive undertakes to promulgate the Decree of which the draft is annexed. It further declares that, in so far as the arrangements above mentioned refer to questions of the internal administration of Egypt, the settlement of which appertains to it in virtue of the Firmans of His Imperial Majesty the Sultan, it adheres to these arrangements, and undertakes, as far as it is concerned, to carry them out.
In witness whereof the Undersigned, furnished with the necessary powers to this effect, has signed the present Declaration.
Done at London, the 17th March, 1885.
Annex 1. Draft Convention.
With a view to facilitate the conclusion by the Egyptian Government of a loan intended partly to provide for the Alexandria indemnities, the payment of which is especially urgent, and as regards the remainder, to settle the financial situation and secure the payment of certain extraordinary expenditure.
The Governments of Great Britain, Germany, Austria-Hungary, France, Italy, Russia, and Turkey have, by common consent, agreed upon the following provisions:—
A loan to be issued. Art. I. The Egyptian Government, with the consent of His Imperial Majesty the Sultan, and under the guarantee resulting from the present Convention, shall issue, at a rate not to exceed 3½ per cent., the securities required to produce a sum not exceeding 9,000,000l.
A Decree of His Highness the Khedive shall fix the rate, the conditions, and the dates of issue.
Art. II. The coupons shall be paid in gold in Egypt, in London, and in Paris, on the 1st March and the 1st September of each year.