Debt Funding Programmes

12-Jun-2019

Zambia-HIPC Approval Document for Zambia: Decision Point under the Enhanced Framework

The Boards of Directors approved the Bank Group’s participation in the enhanced HIPC Initiative, on July 6, 2000. During this meeting, Management’s proposal for the delivery modalities and financing arrangements were also approved. Accordingly, the Bank Group would provide its debt relief by releasing eligible countries from up to 80 percent of their annual debt service obligations until the total debt relief is delivered. Debt service delivery would commence at the decision point, with no more than 40 percent of HIPC assistance being provided during the interim period, viz., between the...
11-Jun-2019

Guinea Bissau - Completion Point Document HIPC Initiative

On 16 December 2010, the Republic of Guinea Bissau became the 26 th R egional M ember C ountry to reach the end of t he HIPC initiative process by attaining the completion point , more than ten years after reaching the decision point in December 2000 . The refore, the Boards of Directors of the IM F and the World Bank approved a debt relief of US$ 42 1 . 7 millio n in end 1999 N et P resent V alue (NPV) terms , and a special assistance estimated at US$ 13 2 . 6 million i n end 2009 NPV terms , to bring Guinea Bissau’s external debt down to sustainable levels . The gradual improvement of the...
21-Feb-2013

Comoros - Completion Point under the Enhanced HIPC Intiative

The Executive Boards of the International Monetary Fund (IMF) and the World Bank approved irrevocable debt relief for the Union of the Comoros « the Comoros » on 17 and 20 December, 2012, respectively under the HIPC initiative framework. The country thus became the 29th regional member country (out of the 33 potentially eligible countries) to reach the completion point and qualify for assistance from the Heavily Indebted Poor Countries (HIPC) Initiative estimated at USD 144.8 million in end-December 2009 net present value (NPV) terms. This commitment on the part of the creditors should enable...
07-Nov-2012

Guinea - Completion Point under the Enhanced HIPC Initiative

Guinea reached the decision point under the Heavily Indebted Poor Countries (HIPC) Initiative in December 2000. After more than a decade, the Executive Boards of the IMF and the World Bank respectively approved irrevocable debt relief for Guinea on 25 and 26 September 2012. Guinea thus became the 28th regional member country to reach the completion point, and should be granted assistance estimated at USD 639.2 million in end-December 1999 net present value terms, aimed at reducing the country's external debt burden to sustainable levels. By reaching the completion point, Guinea also benefits...
22-Oct-2012

Côte d'Ivoire - Completion Point Document HIPC Initiative

On 25 and 26 June, 2012, the Boards of IMF and World Bank, respectively, approved the completion point document for the Republic of Côte d’Ivoire, making the country the 27th Regional Member Country (RMC) to reach the completion point and benefit from irrevocable debt relief under Heavily Indebted Poor Counties (HIPC) Initiative. An assessment of the completion point triggers has shown that Côte d’Ivoire has made satisfactory progress in meeting the requirements to reach the completion point, despite delays related to the postelection crisis. With regards to triggers not met, waivers have...
19-Oct-2012

Côte d’Ivoire - Completion Point under the Enhanced HIPC Initiative

On 25 and 26 June, 2012, the Boards of IMF and World Bank, respectively, approved the completion point document for the Republic of Côte d ’Ivoire, making the country the 27th Regional Member Country (RMC ) to reach the completion point and benefit from irrevocable debt relief under Heavily Indebted Poor Counties (H IPC) Initiative . An assessment of the completion point triggers has shown that Côte d ’Ivoire has made satisfactory progress in meeting the requirements to reach the completion point, despite delays related to the post - election crisis. With regards to triggers not met , waivers...
19-Oct-2012

Ethiopia - Completion Point Document HIPC Framework

In April 2004, Ethiopia became the 10 th Regional M ember Country (RMC) to reach the completion point under the enhanced HIPC Initiative. As a result, the Boards of Directors of the IMF and the World Bank approved US$1.275 billion worth of debt relief in 2000/01 NPV term s as of July 2001, for the country as agreed at the decision point in November 2001, and an additional assistance of US$706.9 million in 2 002/ 03 NPV term s at the completion point. T he additional d ebt relief for topping u p com prises US$552.4 million as th e share of multilateral creditors, an d US$ 154.5 million as the...
19-Oct-2012

Ghana - Completion Point Document HIPC Framework

On July 13, 2004, Ghana became the 11 th of the regional member countries (RMCs) that have reached the Completion Point under the enhanced HIPC Initiative . As a result, the Boards of Directors of the IMF and the World Bank confirmed approval of US$ 2,186 million worth of debt relief in end - 2000 NPV terms for the country as agreed at the decision point in February 2002 under the enhanced HIPC framework 1 . After HIPC assistance, Ghana’s NPV of debt to exports ratio as at end 2003 is estimated at 125 percent, well within the threshold of 150 percent, while similarly its NPV of debt to...
19-Oct-2012

DRC - Completion Point Document HIPC Initiative

On July 1, 2010, the Boards of Directors of the World Bank and IMF approved irrevocable debt relief assistance to Democratic Republic of Congo (DRC) under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The DRC is the 26 th Regional Member Country (RMC) of the African Development Bank Group (Bank Group) to reach the HIPC Completion Point and qualify for a debt relief of US$ 7,252 million in end - December 2002 P resent Value ( PV ) terms , of which 1,009.7 million is from the Bank G roup. This document presents the justification for DRC reaching the Completion Point and seeks...
19-Oct-2012

CAR - Completion Point Document HIPC Initiative

On J une 30, 2009 , the Boards of Directors of the IMF and the World Bank agreed that Central African Republic (CAR) has made sufficient progress to reach the completion point under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. Thus, CAR becomes the 21 st Regional Member Country (RMC) to reach completion point under the Enhanced HIPC Initiative and as a result qualifies for a HIPC debt relief of US$ 578.2 million, in end - 200 6 NPV terms , which includes US$ 84.7 million debt relief from the B ank Group . This document presents the justification for CAR reaching the...
19-Oct-2012

Cameroon - Completion Point Document HIPC Framework

On May 1, 2006, the Republic of Cameroon became the 15 th regional member country (RMC) to reach completion point under the enhanced HIPC Initiative. As a result, the boards of Directors of the IMF and the World Bank approved, for the country, approximately US 1.27 billion of debt relief in end - 1999 NPV terms, equivalent to 27 percent reduction of Cameroon’s debt relief (in NPV terms) after traditional debt relief.
19-Oct-2012

Burundi - Completion Point Document HIPC Initiative

On January 29 , 200 9 , Burundi became the 20 th regional member country (RMC) to reach completion point under the enhanced HIPC Initiative. As a result, the Boards of Directors of the IMF and the World Bank approved a HIPC debt relief of US$ 832.6 million in end - 2004 NPV terms for Burundi which includes US$ 15 0 . 2 million debt relief from the B ank Group . The document presents the justification for Burundi reaching its completion point and seeks Boards’ approval for the Bank Group’s portion of the debt relief to be provided to Burundi.
19-Oct-2012

Burkina Faso - Completion Point Document HIPC Framework

n April 20 02, Burkina Faso reached its completion point and the Boards of the IMF and World Bank approved US$169 million worth of debt relief in end 1999 NPV terms under the enhanced HIPC Framework. This document invites the Boards to note the justifications for Bur kina Faso qualification for HIPC assistance, and approve the proposed plan to finance the balance of the Bank Group’s share of Burkina Faso costs. This comes in addition to US$ 229 million in 1999 NPV terms the country received when it reached its completi on point under the original HIPC framework in July 2000. Furthermore an...
19-Oct-2012

Benin - Completion Point Document HIPC Framework

In March 2003, Benin became the 7 th of the 22 RMCs eligible for the enhanced HIPC Initiative, to reach its completion point , under the enhanced HIPC fra mework 1 . As a result, the Boards of Directors of the IMF and the World Bank approved US$ 265 million worth of debt relief in end 1998 NPV terms for the country under the enhanced HIPC framework. This document presents the justifications for Benin’s qualif ication for HIPC assistance as well as the proposed plan to finance the balance of the Bank Group’s share of Benin’s costs, which amounts to US $37.57 million in end - 1998 NPV terms,...
19-Oct-2012

Mozambique - Completion Point Document HIPC Framework

The Boards of Directors approved the Bank Group’s pa rticipation in the enhanced HIPC Initiative, on July 6, 2000. During this meeting, Management’s proposal for the delivery modalities and financing arrangements were also approved. Accordingly, the Bank Group would provide its debt relief by releasing eligi ble countries from up to 80 percent of their annual debt service obligations until the total debt relief is delivered. Debt service delivery would commence at the decision point, with no more than 40 percent of HIPC assistance being provided during the in terim period, viz., between the...
19-Oct-2012

Mauritania - Completion Point Document HIPC Framework

In June 2002, Mauritania reached its completion point and the Boards of the IMF and World Bank approved US$622 million worth of debt relief in end - 1998 NPV terms under the enhanced HIPC Framework. This document invites the Boards to note the justifications for Ma uritania qualification for HIPC assistance, and approve the proposed plan to finance the balance of the Bank Group’s share of Mauritania costs. Section 2 of this document summarises details of Mauritania’s status of policy and reforms implementation during the interim period, while the total debt relief is disaggregated in Section...
19-Oct-2012

Malawi - Completion Point Document HIPC Initiative

On August 31, 2006, the Republic of Malawi became the 16 th regional member country (RMC) to reach completion point under the enhanced HIPC Initiative. As a result, the Boards of Directors of the IMF and the World Bank approved a HIPC assistance of US$ 646 million in end-1999 NPV terms for Malawi. In addition, a topping-up assistance of US$ 411 million in end-2005 NPV terms was approved for Malawi.
19-Oct-2012

Madagascar - Completion Point Document HIPC Framework

Madagascar reached its decision point in December 2000 and qualified for US$ 814 million worth of total debt relief assistance in end 1999 NPV terms 1 . On October 20, 2004, Madagascar became the 12 th regional member country (RMC) to reach the Completion Point under the enhanced HIPC Initiative. As a result, the Boards of Directors of the IMF and the World Bank approved a total debt relief equivalent to US$ 836 million in end-1999 NPV terms for the country, an increase of US$ 22 million over the initial assistance estimated at the time of the Decision Point. This document presents the...
19-Oct-2012

Liberia - Completion Point Document HIPC Initiative

I n J une 20 10 , the Boards of Directors of the IMF and the World Bank a ppro ved irrevocable debt relief assistance to Liberia under the e nhanced Heavily Indebted Poor Countries (HIPC) Initiative. Liberia becomes the 2 3 rd r egional m ember c ountry (RMC) of the African Development Bank Group (Bank Group) to reach the completion point under the HIPC Initiative and to qualif y for debt relief of US$ 2,739.2 million in end - June 200 7 p resent v alue ( PV ) ter ms , of w hich US$ 2 37 .2 million is from the B ank Group . Th is document presents the justification for Liberia reaching the co...
19-Oct-2012

Tanzania - Completion Point Document HIPC Framework

The Boards of Directors approved the Bank Group’s participation in the enhanced HIPC Initiative, on July 6, 2000. During this meeting, Management’s proposal for the delivery modalities and financing arrangements were also approved. Accordingly, the Bank Group would pro vide its debt relief by releasing eligible countries from up to 80 percent of their annual debt service obligations until the total debt relief is delivered. Debt service delivery would commence at the decision point, with no more than 40 percent of HIPC assistance being provided during the interim period, viz., between the...