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RDC-Extension of Interim Period and Additional Interim Debt Relief under the Enhanced HIPC Initiative

03-Jan-2000

DRC reached its decision point under the HIPC Initiative in July 2003.1 As a result, the Bank Group granted DRC debt relief estimated at US$ 905.10 million, in net present value (NPV) terms, to enable it reach its completion point by December 2007.2 DRC experienced some slippages in fulfilling all the conditions for reaching its completion in December 2007 due to some socio-political and economic problems but continues to make significant progress in its reforms agenda to reach completion point. The level of debt relief granted by the Bank Group to DRC reached 27.3% of the commitment at end July 2007, below the authorized maximum ceiling of 40.0% debt relief during the interim period.

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