§ Mr. BercowTo ask the Secretary of State for International Development when in 2004 he estimates the Department's objective of securing relief of unsustainable debt for all heavily indebted poor countries will be achieved. [171690]
§ Hilary BennDFID's current Public Service Agreement with HM Treasury sets the target of working to ensure that three-quarters of all eligible Heavily Indebted Poor Countries (HIPCs) committed to poverty reduction receive irrevocable debt relief by 2006. DFID is on track to meet this target.
While progress in implementing the HIPC Initiative has not been as rapid as previously projected, the number of countries reaching Completion Point—the point at which irrevocable debt relief is granted—has increased in recent months. Five countries have reached Completion Point since December 2003 and DFID expects a further five before the end of this year. This would bring the number of countries at Completion Point to 18 out of the 27 eligible countries that have already passed Decision Point. Of the remaining nine countries, it is estimated that all will reach Completion Point by end 2006.