MDRI / Participation in the Multilateral Debt Relief Initiative in order to cancel eligible debt of low-income countries from the...
Projects

General information

Title

MDRI / Participation in the Multilateral Debt Relief Initiative in order to cancel eligible debt of low-income countries from the International Development Association of the World Bank

Budget
€223,480,000.00
Actors
Worldbank Group: IDA - Multilateral Debt Relief Initiative (MDRI) - PRT
Sectors
Relief of multilateral debt
Start date
End date

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.

Objectives

The initiative is intended to help a group of low-income countries advance toward the Millennium Development Goals (MDGs), which are focused on halving poverty by 2015. The MDRI provides for 100 percent relief on eligible debt from three multilateral institutions to a group of low-income countries. 11 countries that have reached the decision point under the Enhanced HIPC Initiative Countries will be eligible once they reach the completion point under the Enhanced HIPC Initiative: (i) Eligible under the MDRI-I Trust (per-capita income at or below $380): Afghanistan, Central African Republic, Chad, Democratic Republic of the Congo, Guinea-Bissau, Togo; (ii) Eligible under the MDRI-II Trust (per-capita income above $380): Côte d'Ivoire, Guinea, Haiti, Republic of Congo. 5 additional countries may wish to be considered for HIPC debt relief: (i) Eligible under the MDRI-I Trust (per-capita income at or below $380): Eritrea; (ii) Eligible under the MDRI-II Trust (per-capita income above $380): Comoros, Kyrgyz Republic, Sudan.