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Status

Implementation

Aid type

Contributions to specific-purpose programmes and funds managed by implementing partners

Somalia


Location

-

€ 9,000,000
Committed
€ 3,000,000
Used

Description

In 1996, the World Bank and IMF launched the HIPC Initiative to create a framework in which all creditors, including multilateral creditors, can provide debt relief to the world's poorest and most heavily indebted countries to ensure debt sustainability, and thereby reduce the constraints on economic growth and poverty reduction imposed by the unsustainable debt-service burdens in these countries. To date, 37 HIPC countries, including Somalia, have reached their decision points, of which 36 have reached the completion point. read more close

Year Committed Used
2021 € 9,000,000 € 3,000,000

Agency

Type Name Channel code
Government AICS - Italian Agency for Cooperation and Development 43000

Channel reported

Type Name Channel code
Multilateral IMF - FONDO MONETARIO INTERNAZIONALE 43000

Project data

  • IATI IDXM-DAC-6-4-012257-01-0
  • Expected start date 2020/03/25
  • Completion date 2022/03/25
  • Finance type Standard grant
  • Flow type ODA
  • Bi/Multilateral Multilateral (inflows)
  • Status Implementation
  • Tied status Untied

Sectors

  • 60030 - Relief of multilateral debt 100%

Policy markers

  • Gender Equality not targeted
  • Disaster Risk Reduction (DRR) not targeted
  • Disability not targeted
  • Nutrition not targeted
  • Aid to Environment not targeted
  • Participatory Development/Good Governance not targeted
  • Trade Development not targeted
  • Aid Targeting the Objectives of the Convention on Biological Diversity not targeted
  • Aid Targeting the Objectives of the Framework Convention on Climate Change - Mitigation not targeted
  • Aid Targeting the Objectives of the Framework Convention on Climate Change - Adaptation not targeted
  • Aid Targeting the Objectives of the Convention to Combat Desertification not targeted
  • Reproductive, Maternal, Newborn and Child Health (RMNCH) not targeted

Goals

  • 17.4 - Assist developing countries in attaining long-term debt sustainability through coordinated policies aimed at fostering debt financing, debt relief and debt restructuring, as appropriate, and address the external debt of highly indebted poor countries to reduce debt distress
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