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    HIPC and about US$15 billion under the MDRI). If all potentially eligible countries qualify, this total could rise to about US$30 billion (NPV). In
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    The Bank provides debt relief to low-income countries through the Debt Relief Initiative for Heavily Indebted Poor Countries (HIPC), created in 1996, and the Multilateral Debt Relief Initiative (MDRI), created in 2006. Thirty countries are receiving debt relief under one or both of these initiatives, with ten other countries potentially eligible. This debt relief is worth over US$63 billion in 2005 net present value terms (NPV) if all creditors participate. For these 30 countries, World Bank debt relief is expected to total about US$25 billion (NPV: US$10 billion under HIPC and about US$15 billion under the MDRI). If all potentially eligible countries qualify, this total could rise to about US$30 billion (NPV). In

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    , created in 1996, and the Multilateral Debt Relief Initiative (MDRI), created in 2006. Thirty countries are receiving debt relief under one or both of these initiatives, with ten other countries potentially eligible. This debt relief is worth over US$63 billion in 2005 net present value terms (NPV) if all creditors participate. For these 30 countries, World Bank debt relief is expected to total about US$25 billion (NPV: US$10 billion under HIPC and about US$15 billion under the MDRI). If all potentially eligible countries qualify, this total could rise to about US$30 billion (NPV). In
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    of these initiatives, with ten other countries potentially eligible. This debt relief is worth over US$63 billion in 2005 net present value terms (NPV) if all creditors participate. For these 30 countries, World Bank debt relief is expected to total about US$25 billion (NPV: US$10 billion under HIPC and about US$15 billion under the MDRI). If all potentially eligible countries qualify, this total could rise to about US$30 billion (NPV). In
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    NPV) if all creditors participate. For these 30 countries, World Bank debt relief is expected to total about US$25 billion (NPV: US$10 billion under HIPC and about US$15 billion under the MDRI). If all potentially eligible countries qualify, this total could rise to about US$30 billion (NPV). In
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    HIPC and about US$15 billion under the MDRI). If all potentially eligible countries qualify, this total could rise to about US$30 billion (NPV). In countries receiving debt relief, debt service has been cut by two-thirds, and annual spending on anti-poverty programs increased from US$4 billion to US$11 billion since 1999. Overview

    Following the buildup of foreign debt owed by many low-income countries throughout the 1970s and 1980s, low growth, falling commodity prices, and other economic shocks left many nations with unsustainable debt burdens. By 1992, the 33 most indebted low-income countries faced debts whose present value had more than doubled in ten years to over six times their annual exports. Starting in the late 1980s

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