Press Release: EU grants another EUR 60 million debt relief for Highly Indebted Poor Countries (HIPC) within African, Caribbean and Pacific Countries (ACP)

The EU decided in September 2002 to grant a further €60 million debt relief in order to cancel all the special loans owed to the EU and managed by the European Investment Bank (EIB) at special interest rates. With this new grant the EU goes beyond the enhanced Highly Indebted Poor Countries (HIPC) Initiative of international donors and confirms its commitment to helping the least developed ACP countries.