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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 political and economic environment in recent year s has led to the re storation of relations with development partners, thereby facilitating the deployment of completion point triggers. In reaching the completion point, Guinea Bissau also fulfilled the conditions for benefiting from additional debt relief under the M ultilateral D ebt R elief I nitiative ( MDRI) . Th is document provides justification for the attainment of the completion point and requests approval by the Boards of Directors of the Bank Group’s share of Guinea Bissau’s debt relief as well as its e ligibility for MDRI.