Cotonou 2000 ACP-EU Agreement

Sectors : Debt relief
Organisation : EU
Date made: 
2000
Level: 
Heads Of State
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Commitments in: Financing for Development - Debt relief

“CHAPTER 2

DEBT AND STRUCTURAL ADJUSTMENT SUPPORT

ARTICLE 66

Support for debt relief

1. In order to attenuate the debt burden of the ACP States and their balance-of-payment problems, the Parties agree to use the resources provided for in this Agreement to contribute to debt relief initiatives approved at international level for the benefit of ACP countries. In addition, on a case by case basis, the use of resources which have not been committed in the framework of past indicative programmes shall be accelerated through the quick-disbursing instruments provided for in this Agreement. The Community furthermore commits itself to examine how in the longer term other resources than the EDF can be mobilised in support of internationally agreed debt relief initiatives.”

2. At the request of an ACP State, the Community may grant:

(a) assistance in studying and finding practical solutions to indebtedness including domestic debt, debt-servicing difficulties and balance of payments problems;
(b) training in debt management and international financial negotiations as well as support for training workshops, courses and seminars in these fields; and
(c) assistance to develop flexible techniques and instruments of debt management.”

Scope: 
Africa