§ 7. Mr. EdwardsTo ask the Secretary of State for International Development if she will make a statement about progress in reducing international debt in Uganda. [46046]
§ Hilary BennUganda became the first country to benefit under the Heavily Indebted Poor Countries (H1PC) Initiative, receiving $347 million dollars worth of debt relief in April 1998. Under the enhanced HIPC framework agreed in 1999, Uganda received additional debt relief of $656 million dollars when it reached its second Completion Point in May 2000, bringing its total HIPC relief to $1 billion dollars in net present value terms.