*23 Grant Aid for Debt Relief

In accordance with the resolution adopted in 1978 by the Ninth Trade Development Board ( TDB ) of the United Nations Conference on Trade and Development ( UNCTAD ), Japan has been providing grant aid for debt relief to LLDCs with whom Japan has ODA loan arrangements, and to the countries most seriously affected by the oil crisis ( MSAC ). In the case of LLDCs, whenever repayments are received on ODA loans (according to loan arrangements signed during or before fiscal 1987), Japan provides scheme grants corresponding to the amount of principal and interest payments received. Japan has provided grant aid for debt relief amounting to approximately ¥340 billion in the period between fiscal 1978 and 1998.