General information
Title
MDRI/Participation in the Multilateral Debt Relief Initiative in order to cancel eligible debt of low-income countries from the African Development Fund
ID
XM-DAC-2-10-3002934
Start date
End date
Activity status
Completion
Actor
African Development Bank (Special Fund) - Afr.DB - Sp.F
Sector
Debt - Relief of multilateral debt
Aid type
Contributions to specific-purpose programmes and funds managed by international organisations (multilateral, INGO)
Fragile state
No
Least developed country
No
Budgetline
54 33 544211 Multilateral debt cancellation (HIPC and MDRI)
Finance type
GRANT
Tied status
No
Flow type
ODA
Body
General
The initiative is intended to help a group of low-income countries advance toward the United Nations' Millennium Development Goals (MDGs), which are focused on halving poverty by 2015.
Results
The MDRI provides for 100 percent relief on eligible debt from three multilateral institutions to a group of low-income countries.
Other
As of May 2009, 24 HIPC countries have reached the completion point under the Enhanced HIPC Initiative and have benefited from MDRI : (i) Eligible under the MDRI-I Trust (per-capita income at or below $380): Burkina Faso, Burundi, Ethiopia, The Gambia, Ghana, Madagascar, Malawi, Mali, Mozambique, Niger, Rwanda, São Tomé and Príncipe, Sierra Leone, Tanzania, Uganda: (ii) Eligible under the MDRI-II Trust (per-capita income above $380): Benin, Bolivia, Cameroon,Guyana, Honduras, Mauritania, Nicaragua, Senegal, Zambia. Alson 2 Non-HIPC countries (Cambodia and Tajikistan) with per capita income below $380 and outstanding debt to the IMF could benefit from MDRI.