Announcement by the Chief Cabinet Secretary on Japan's Additional Debt-Relief Measures for Heavily Indebted Poor Countries

April 10, 2000

At the last year's Cologne Summit, the debt problem faced by the Heavily Indebted Poor Countries (HIPCs) was discussed as an issue of great importance. Member countries agreed on extending enhanced debt relief, including 100% reduction of ODA claims, for those countries that truly need such relief and made every possible self-help effort.
At this year's Summit meeting, various development issues such as poverty reduction will be discussed, and Japan, as this year's Chair, will take the lead and make the utmost efforts in this field. With regard to the debt issue, early implementation of the Cologne Initiative is urgent. In this connection, Japan has decided to extend enhanced debt relief of up to 100% of non-ODA claims for eligible HIPCs under the international framework. Moreover, it has decided to make further contributions of up to US$200 million in total, including US$10 million already disbursed, to the World Bank's HIPC Trust Fund.
Difficulties facing the HIPCs must not be left unaddressed, both for humanitarian reasons and from the viewpoint of ensuring the peace and stability of the international community. Japan will continue to be committed to supporting those countries, mainly African countries, through various assistance measures, including further provision of grant assistance. At the same time, Japan will strongly request that other countries and international organizations strengthen their respective efforts to address this critical problem.

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