§ Mr. StreeterTo ask the Secretary of State for International Development how much bilateral aid debt of developing nations has been cancelled by Her Majesty's Government since 1 May 1997. [69225]
§ Clare ShortIn September 1997, as part of the Mauritius Mandate, we agreed to cancel the outstanding aid debts, worth £132 million, owed by those lower income Commonwealth countries that are committed to pursuing the international development targets, that are34W following sound policies which benefit the poor and promote responsive and accountable government, and that are bearing down on corruption. To date, under this initiative we have cancelled aid debts worth £29 million.
In August 1997 we agreed a package of assistance to help the Government of Antigua and Barbuda with the costs arising from the influx of people from Montserrat following the volcanic eruptions there. This package included debt relief of £1.25 million.
In addition, in the last two financial years, we have forgone repayments of aid loans totalling £38.8 million under debt relief agreements reached before May 1997.