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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 decision and completion points. Whenever possible, total debt relief will be provided within 15 years.