Amounts treated
$12 million
Categories of debt treated
Treatment of maturities falling due from January 01, 1996 up to August 31, 1998
Repayment profile
Treatment under Naples terms (cancellation rate of 67%)
- repayment of non ODA credits over 23 years, with 6 years of grace, after cancellation to a rate of 67%
- repayment of ODA credits over 40 years with 16 years of grace
Specific provisions
Possibility to conduct debt swaps
Entry-into-force provision
Agreement implemented on September 30, 1996
Phases
- First phase : From January 01, 1996 up to December 31, 1996, implemented on September 30, 1996
- Second phase : From January 01, 1997 up to December 31, 1997, implemented on March 10, 1997
- Third phase : From January 01, 1998 up to August 31, 1998, implemented on July 02, 1998
Comparability of treatment provision
yes