38672 IDA15 MULTILATERAL DEBT RELIEF INITIATIVE (MDRI): UPDATE ON DEBT RELIEF BY IDA AND DONOR FINANCING TO DATE International Development Association Resource Mobilization (FRM) February 2007 Selected Abbreviations and Acronyms AfDF African Development Fund FRM Resource Mobilization Department FY Fiscal year HIPC Heavily Indebted Poor Countries IDA International Development Association IMF International Monetary Fund MDRI Multilateral Debt Relief Initiative PAYG Pay-as-you-go SDR Special Drawing Right TABLE OF CONTENTS Executive Summary............................................................................................................................ i I. Introduction ...............................................................................................................................1 II. Debt Relief by IDA under the MDRI ........................................................................................2 III. Donor Financing Commitments to the MDRI ...........................................................................3 Charts Chart 1: Updated Time Profile of Forgone Credit Reflows of IDA (FY06-44, USD million equiv.)........................................................................................3 Chart 2: Level of Donor Financing Commitments to the HIPC Initiative (USD million equiv.) ........................................................................................................4 Chart 3: Level of Donor Financing Commitments to the MDRI (USD million equiv.) ........................................................................................................6 Tables Table A: MDRI Financing Summary ­ IoCs Received (USD) .......................................................5 Table 1: Total Debt Relief to be Delivered by IDA: Estimated Volume since Inception of the HIPC Initiative (FY1996-2044) Table 1a: in SDR ............................................................................................................7 Table 1b: in USD ............................................................................................................8 Table 2: Estimated HIPC and MDRI Debt Relief by IDA, from IDA14 Period (FY07-44) By HIPC Country Table 2a: in SDR .............................................................................................................9 Table 2b: in USD ..........................................................................................................10 Table 3: Estimated HIPC and MDRI Debt Relief by IDA, from IDA14 Period (FY06-44) By Fiscal Year Table 3a: in SDR ...........................................................................................................11 Table 3b: in USD ..........................................................................................................12 Table 4: Estimated HIPC and MDRI Debt Relief by IDA, from IDA14 Period (FY06-44) By HIPC Country and IDA Replenishment Table 4a: in SDR ...........................................................................................................13 Table 4b: in USD ..........................................................................................................14 Table 5: Estimated HIPC Debt Relief by IDA, from IDA14 Period (FY06-44) By HIPC Country and IDA Replenishment Table 5a: in SDR ...........................................................................................................15 Table 5b: in USD ..........................................................................................................16 - ii - Table 6: Estimated MDRI Debt Relief by IDA, from IDA14 Period (FY07-44) By HIPC Country and IDA Replenishment Table 6a: in SDR ...........................................................................................................17 Table 6b: in USD ..........................................................................................................18 Table 7: MDRI Financing Summary ­ IoCs Received (SDR equiv. millions).............................19 Table 8: Donor Pledges to the MDRI Table 8a: in SDR ...........................................................................................................20 Table 8b: in National Currency......................................................................................21 Table 9: Donor Financing of IDA's Forgone Reflows due to the MDRI: Total Financing Commitments Received Table 9a: in SDR ...........................................................................................................22 Table 9b: in USD ..........................................................................................................23 Table 9c: in National Currency......................................................................................24 Table 10: Donor Financing of IDA's Forgone Reflows due to the MDRI: Firm Financing Commitments Received (Unqualified IoCs), by Period Table 10a: in SDR .........................................................................................................25 Table 10b: in USD ........................................................................................................26 Table 10c: in National Currency....................................................................................27 Table 11: Irrevocable MDRI Debt Relief Provided by IDA vs. Firm Donor Financing Received Table 11a: in SDR .........................................................................................................28 Table 11b: in USD ........................................................................................................29 . EXECUTIVE SUMMARY 1. Since the inception of the HIPC Initiative in 1996, total debt relief provided by IDA under the HIPC Initiative and the MDRI is currently estimated at about USD 53.6 billion, including USD 36.4 billion under the MDRI. The current MDRI estimate is about USD 250 million lower than the original estimates at the time of MDRI approval in mid-2006, primarily due to the reduction of the number of HIPCs from 42 to 40 countries. 2. As of December 31, 2006, 21 HIPC countries have reached the HIPC completion point, receiving a total of USD 40.3 billion of irrevocable debt relief by IDA, equivalent to about 75 percent of the total debt relief to be provided by IDA. Of this amount, USD 28.3 billion has been provided under the MDRI and the balance of USD 12.0 billion under the HIPC Initiative. The remaining 19 HIPC countries will benefit from the MDRI upon reaching the completion point. 3. As of December 31, 2006, donors provided unqualified, firm financing commitments representing 47 percent of the originally projected MDRI costs of IDA over the 10-year disbursement horizon of IDA14 (FY07-16). Another 26 percent of forgone credit reflows over that horizon are covered by qualified financing commitments, bringing total donor financing commitments to 73 percent of original MDRI costs over the 10-year disbursement horizon of IDA14. Over the 40-year period of the MDRI, aggregate donor financing received is currently equivalent to 66 percent of total original MDRI costs of IDA; this includes firm financing commitments covering 10 percent of total MDRI costs over 40 years. 4. Thirty-four donor countries have pledged to contribute to the MDRI replenishment of IDA. As of December 31, 2006, 28 of these donors have provided their Instrument of Commitment, for a total commitment volume of USD 24.3 billion. This compares with total target contributions for all donors of USD 33.7 billion net of the structural financing gap, based on the original MDRI cost estimates. Donors will need to discuss how to close the structural financing gap under the MDRI replenishment (of 8.0 percent), which represents USD 2.9 billion based on the original MDRI cost estimates. 5. As of December 31, 2006, IDA has provided irrevocable debt relief under the MDRI of USD 28.3 billion. This compares with firm financing commitments received from donors of USD 3.8 billion. MULTILATERAL DEBT RELIEF INITIATIVE (MDRI): UPDATE ON DEBT RELIEF BY IDA AND DONOR FINANCING TO DATE I. INTRODUCTION 1. The Multilateral Debt Relief Initiative (MDRI) was proposed by G8 Heads of States in July 2005 and subsequently welcomed by the Development Committee in September 2005. The MDRI provides 100 percent cancellation of IDA, AfDF, and IMF debt for countries that reach the HIPC completion point. Its objectives are twofold: Deepening debt relief to HIPCs, while safeguarding the long-term financial capacity of IDA and the AfDF; and encouraging the best use of additional donor resources for development by allocating them to low-income countries on the basis of policy performance. Debt relief provided under the MDRI is in addition to existing debt relief commitments by IDA and other creditors under the Enhanced HIPC Debt Initiative. Under the financing package for the MDRI, donors agreed to finance IDA's MDRI costs on a `dollar-for-dollar' basis. 2. The Board of Executive Directors of IDA approved IDA's participation in the MDRI on March 28, 2006.1 IDA's Board of Governors adopted on April 21, 2006 the Resolution authorizing an increase in IDA resources to cover MDRI-related costs.2 The Board of Executive Directors of IDA approved IDA's implementation of the MDRI as of July 1, 2006, the beginning of fiscal year 2007.3 The MDRI replenishment of IDA became effective as of August 4, 2006. 3. This report responds to the request by donors for ongoing monitoring of donor contributions to the MDRI and to review the status of MDRI financing at the beginning of the IDA15 discussions.4 It also responds to the request by IDA Deputies at the IDA14 Mid-term Review in November 2006 for a review of the status of MDRI implementation by IDA. Section II of this report provides updated estimates of the volume of debt relief provided by IDA under the MDRI. Section III offers updated information on donor financing commitments received under the MDRI replenishment of IDA. 4. The data contained in this report are as of December 31, 2006. They are shown in nominal value terms as this forms the basis for donors' compensatory contributions to IDA over time. Data are presented in SDR and in USD equivalent terms, as well as in national currency terms, where applicable.5 1 "IDA's Implementation of the Multilateral Debt Relief Initiative," IDA/R2006-0042, March 17, 2006. 2 "Additions to Resources: Financing the Multilateral Debt Relief Initiative," Resolution No. 211 adopted on April 21, 2006. 3 "Implementation Start Date of the Multilateral Debt Relief Initiative (MDRI)," IDA/R2006-0122, June 9, 2006. 4 See paras. 25 and 40, respectively, of Resolution No. 211 adopted on April 21, 2006. 5 The MDRI cancels the portion of IDA credits remaining after applying HIPC debt relief. The bulk of IDA credits cancelled are denominated in SDR, while HIPC debt relief is denominated in USD terms. As a result, the USD equivalent volume of debt relief provided under the MDRI will vary with foreign exchange rates. Current cost estimates are based on the foreign exchange reference rate of USD/SDR 1.47738 agreed under the MDRI replenishment of IDA. - 2 - II. DEBT RELIEF BY IDA UNDER THE MDRI 5. Total debt relief. Since the inception of the HIPC Initiative in 1996, total debt relief to be provided by IDA under HIPC and MDRI combined is currently estimated at about USD 53.6 billion (see the enclosed Table 1b).6 7 8 This total amount can be broken down into two elements: · From July 1, 2006, over the 40-year implementation period of the MDRI (FY07-44), IDA is estimated to provide a total of USD 49.6 billion in debt relief, including USD 36.4 billion under the MDRI and USD 13.2 billion under the HIPC Initiative. Donors have committed to finance these amounts over time as reflow losses occur. · In addition, prior to July 1, 2006, IDA has already provided about USD 4.0 billion of HIPC debt relief. The bulk of this amount has been financed through IBRD net income transfers to the HIPC Trust Fund, complemented by bilateral donor financing. 6. Irrevocable debt relief to completion point HIPCs. As of December 31, 2006, 21 HIPC countries have reached the HIPC completion point. These countries have received a total of USD 40.3 billion of irrevocable debt relief from IDA, equivalent to about 75 percent of the total debt relief to be provided by IDA. Of this amount, an estimated USD 28.3 billion has been provided under the MDRI and the balance of USD 12.0 billion under the HIPC Initiative (see Table 1b). 7. Donor financing for IDA's debt relief costs. Donor financing for IDA's debt relief under the HIPC Initiative was introduced in the IDA14 replenishment, starting in FY06. Donor financing of MDRI-related costs of IDA began in FY07 and is scheduled to end by FY44 when the last IDA credit eligible for cancellation under the MDRI would have matured. Over the period FY06-44, IDA will provide an estimated total amount of debt relief of USD 50.1 billion (see Table 2b); this amount is composed of USD 49.6 billion of debt relief over the MDRI implementation period (FY07-44) plus HIPC debt relief costs during FY06 of USD 0.5 billion. IDA's debt relief is broken down into an estimated credit principal volume of USD 44.9 billion (representing about 90 percent of total debt relief) and USD 5.2 billion of forgone service charges (see Table 2b). For the 21 completion-point countries, SDR-denominated credits represent about 95 percent of total credits cancelled, with USD-denominated credits representing the balance.9 6 Estimates of debt relief under the HIPC Initiative and the MDRI are for potentially eligible countries. Estimates are subject to change as a result of future reviews of countries' debt stocks and the timing of expected decision and completion point dates. 7 Current estimates for IDA's HIPC and MDRI debt relief are based on a list of 40 HIPC countries, including 10 pre-decision point HIPCs that meet the income and indebtedness criteria based on end-2004 figures and that might wish to be considered for HIPC debt relief. Prior estimates for IDA's MDRI debt relief included 42 potential HIPC countries. Following a meeting of the IDA Board on the HIPC Sunset Clause on September 7, 2006, two countries originally included in list of 42 HIPCs have been excluded from this list: Myanmar, due to insufficient data to assess debt ratios against the HIPC thresholds; and Lao PDR, which had expressed its desire not to participate in the HIPC Initiative. 8 This amount excludes USD 0.8 billion of IDA credit arrears of pre-decision point HIPCs. 9 IDA credits approved prior to August 1, 1980 were denominated in US Dollars. - 3 - 8. Time profile of forgone credit reflows. The annual volume of forgone credit reflows of IDA under the HIPC Initiative equaled USD 513 million in FY06 (see Table 3b). For FY07, with the MDRI being implemented, the combined volume is expected to increase to an estimated USD 938 million. Annual volumes of forgone credit reflows of IDA due to the HIPC Initiative and the MDRI are projected to increase to USD 2.0 billion by FY23, then decrease to about USD 1.0 billion by FY34 and further to zero after FY44. Over the first decade of FY06-16, IDA is projected to forgo credit reflows of about USD 15.4 billion, equivalent to about 31 percent of the total volume of forgone credit reflows over the four decades of FY06-44. Chart 1 illustrates the updated time profile of forgone credit reflows of IDA due to the HIPC Initiative and the MDRI. Chart 1: Updated Time Profile of Forgone Credit Reflows of IDA (FY06-44, USD million equiv.) 2,000 1,800 1,600 1,400 MDRI 1,200 Costs 1,000 HIPC 800 Costs 600 400 200 - 06 09 12 15 18 21 27 30 33 39 42 FY FY FY FY FY FY FY24 FY FY FY FY36 FY FY 9. Credit reflows forgone by IDA replenishment period. Over the IDA14 commitment period (FY06-08), the total volume of forgone credit reflows due to debt relief provided by IDA is estimated at USD 2,590 million (see Table 4b). This includes forgone credit reflows due to the HIPC Initiative of USD 1,798 million (see Table 5b). That HIPC-related amount over three years is being financed under the IDA14 replenishment framework through donor contributions and through a final transfer from IBRD net income. Over the first decade of the MDRI (FY07- 16), the volume of IDA's forgone credit reflows due to debt relief under the MDRI is estimated at USD 6,757 million (see Table 6b). Donors have agreed to finance this 10-year amount under the MDRI replenishment, preferably through firm financing commitments. III. DONOR FINANCING COMMITMENTS TO THE MDRI 10. This section provides information about the current status of donor financing commitments received for IDA's debt relief costs. These donor commitments are based on estimates for HIPC costs of IDA as established at the time of concluding the IDA14 discussions in February 2005, and estimates for MDRI costs of IDA as of the time of concluding the MDRI - 4 - replenishment discussions in March 2006, respectively. Original cost estimates are being used in this section for ease of reference and to ensure comparability of volumes of donor financing received over time. Section II provided updated cost estimates, as of December 31, 2006. IDA's cost estimates for debt relief will be updated once again as of June 30, 2007, then providing the basis for donors' further financing commitments during the IDA15 period. 11. HIPC financing within IDA14. IDA14 was the first replenishment for donors to finance IDA's forgone credit reflows due to the HIPC Initiative.10 Donor financing of HIPC costs occurs on a pay-as-you-go basis, over the 3-year commitment period of each IDA replenishment. Over the 3-year commitment period of IDA14 (FY06-08), IDA forgoes an estimated USD 1,798 million of credit reflows due to the HIPC Initiative. After using remaining resources of USD 384 million from prior IBRD transfers to the HIPC Trust Fund, a balance of about USD 1,414 million of HIPC costs during FY06-08 will be financed by donor commitments received under IDA14. Chart 2 illustrates the time profile of donor financing under IDA14 for the HIPC Initiative and the current level of donor commitments received. Chart 2: Level of Donor Financing Commitments to the HIPC Initiative (USD million equiv.) 1,000 900 Not 800 Financed 700 600 Qualified Donor 500 Financing 400 300 Unqualified Donor 200 Financing 100 - 06 08 10 12 14 16 18 20 22 24 6 28 FY FY FY FY FY FY FY FY FY FY FY2 FY 12. The MDRI replenishment of IDA. To finance IDA's forgone credit reflows under the MDRI, donors established a separate MDRI replenishment, spanning four decades (FY07-44). In order to preserve IDA's advance commitment capacity - under which IDA uses its stream of available future credit reflows to back disbursements on approved credits and grants - donors 10 In IDA14, donors reaffirmed the intent of the Development Committee that HIPC costs should not damage IDA's finances (see: Development Committee Communique, dated September 27, 1999). In IDA14, donors also supported the arrangement whereby the IDA Deputies had agreed that the financing of IDA's HIPC debt relief costs would be addressed in 2004, in conjunction with the IDA14 replenishment discussions (see: Chairman's Summary, HIPC Technical Meeting, Paris, October 24, 2002). - 5 - acknowledged the need to provide unqualified, firm MDRI financing commitments over a rolling decade, thereby matching the disbursement period of each future IDA replenishment.11 The long-term nature of MDRI financing commitments may present a challenge for some donors who cannot make firm commitments over such a long time period due to legislative or budgetary constraints. 13. MDRI financing summary. As of December 31, 2006, donors have provided unqualified, firm financing commitments representing 47 percent of the original projected MDRI costs over the 10-year disbursement horizon of IDA14 (FY07-16) (see Table A below and enclosed Table 7)12. Another 26 percent of forgone credit reflows over that horizon are covered by qualified financing commitments, bringing total donor financing commitments to 73 percent of MDRI costs over the 10-year disbursement horizon of IDA14.13 Over the 40-year period of the MDRI, aggregate donor financing commitments received are currently equivalent to 66 percent of total estimated MDRI costs of IDA; this includes firm financing commitments covering 10 percent of total estimated MDRI costs over 40 years. Chart 3 illustrates the time profile of donor financing under the MDRI and the current level of donor commitments received. Table A: MDRI Financing Summary ­ IoCs Received as of December 31, 2006 USD million equiv. Remaining IDA14 Remainder of First Sub-total for Subsequent 3 Financing received Total MDRI Costs Period Decade First Decade Decades from IDA donors (FY07-08) (FY09-16) (FY07-16) (FY17-44) (FY07-44) USDm in % USDm in % USDm in % USDm in % USDm in % Unqualified Financing 608 75.4% 3,028 43.4% 3,636 46.7% 172 0.6% 3,808 10.4% Qualified Financing 153 19.0% 1,879 26.9% 2,032 26.1% 18,443 63.9% 20,475 55.9% Subtotal 762 94.4% 4,907 70.3% 5,668 72.8% 18,615 64.5% 24,283 66.3% To be committed 45 5.6% 2,069 29.7% 2,114 27.2% 10,236 35.5% 12,351 33.7% Total 807 100.0% 6,975 100.0% 7,782 100.0% 28,851 100.0% 36,634 100.0% Note: Based on original MDRI cost estimates 11 The annual encashment of donor contributions to finance MDRI-related costs of IDA will occur on a pay-as- you-go basis, matching the actual forgone reflows of IDA during each year. 12 In addition, in January 2007, IDA received the Instrument of Commitment of the Republic of Korea for an amount of USD equiv. 334 million, including an unqualified commitment for the first 2 years of MDRI financing. In February 2007, Luxembourg unqualified all remaining amounts of its 40-year MDRI commitment. 13 Under the MDRI replenishment of IDA, donors agreed that a `qualified' financing commitment could be provided without prior parliamentary or legislative approval. This differs from regular replenishments of IDA where issuance of a `qualified' commitment occurs after required parliamentary or legislative authorization. - 6 - Chart 3: Level of Donor Financing Commitments to the MDRI (USD million equiv.) 1,800 1,600 1,400 Not Financed 1,200 1,000 Qualified Donor 800 Financing 600 Unqualified Donor 400 Financing 200 0 06 08 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY 14. Donor pledges to the MDRI. A total of 34 donor countries have pledged to contribute to the MDRI replenishment of IDA. As of December 31, 2006, 28 of these donor countries have provided an Instrument of Commitment for the MDRI replenishment, while the remaining 6 donor countries are in the process of securing required approvals to issue their Instrument of Commitment (see Tables 8a/b). 15. Total financing commitments received. As of December 31, 2006, donors have provided total Instruments of Commitments (qualified and unqualified) to the MDRI for a volume of USD 24.3 billion (see Table 9b). This compares with total target contributions for all donors of about USD 33.7 billion net of the structural financial gap, based on the original MDRI cost estimates. Donors will need to discuss how to close the structural financing gap under the MDRI replenishment (of currently 8.0 percent), which represents about USD 2.9 billion based on the original MDRI cost estimates. 16. Firm financing commitments received. As of December 31, 2006, donors have provided firm financing commitments through unqualified Instruments of Commitments to the MDRI for a volume of USD 3.8 billion (see Table 10b). 17. Irrevocable debt relief vs. firm financing commitments. As of December 31, 2006, IDA has provided irrevocable debt relief under the MDRI of USD 28.3 billion (see Table 11b). This compares with firm financing commitments received from donors of USD 3.8 billion. - 7 - Table 1a International Development Association Total Debt Relief to be Delivered by IDA: Estimated Volume since Inception of the HIPC Initiative (FY1996-2044) as of December 31, 2006 (SDReq. millions) Total HIPC Debt Relief MDRI Debt Relief HIPC + MDRI Costs Debt Relief Total HIPC Delivered To be Delivered To be Delivered To be Financed by Donors by IDA pre-July 2006 post July 1, 2006 Post July 1, 2006 Post July 1, 2006 (A+B+C) (A+B) (A) (B) (C) (B+C) Completion Point Countries (21) Benin 551 83 29 54 468 522 Bolivia 1,225 192 81 111 1,033 1,145 Burkina Faso 782 280 154 127 501 628 Cameroon 758 201 65 135 557 693 Ethiopia 2,453 868 114 753 1,585 2,339 Ghana 3,001 974 137 836 2,027 2,863 Guyana 217 89 49 40 128 168 Honduras 922 114 76 39 808 847 Madagascar 1,504 299 62 237 1,205 1,442 Malawi 1,498 670 76 593 828 1,421 Mauritania 490 116 26 90 373 463 Mali 1,055 195 96 98 860 958 Mozambique 1,591 699 678 20 893 913 Nicaragua 781 258 33 225 523 748 Niger 782 276 43 233 506 739 Rwanda 716 478 56 422 238 660 Senegal 1,372 109 55 54 1,263 1,317 Republic of Sierra Leone 419 157 22 135 262 396 Tanzania 2,689 778 184 594 1,912 2,506 Uganda 2,548 658 317 341 1,890 2,231 Zambia 1,870 596 97 498 1,274 1,773 Sub-Total 27,222 8,088 2,451 5,637 19,134 24,771 Decision Point Countries (9) Burundi 535 522 12 510 13 523 Chad 577 72 19 53 506 559 Congo, Republic of 163 48 1 47 115 162 Congo, Democratic Republic of 1,358 695 66 629 662 1,292 Gambia, The 166 21 8 13 145 158 Guinea 902 157 44 113 745 858 Guinea-Bissau 205 121 19 102 84 186 Haiti 327 14 - 14 313 327 Sao Tome and Principe 56 31 5 26 25 51 Sub-Total 4,290 1,681 174 1,507 2,609 4,116 Pre-Decision Point Countries (10) Central African Republic 284 211 - 211 72 284 Cote d'Ivoire* 1,298 262 - 262 1,036 1,298 Eritrea 253 140 - 140 113 253 Kyrgyz Republic 395 111 - 111 284 395 Liberia* 56 24 - 24 32 56 Nepal 890 237 - 237 653 890 Somalia* 243 192 - 192 52 243 Sudan* 719 433 - 433 286 719 Togo* 444 117 - 117 327 444 Union of the Comoros 78 46 - 46 32 78 Sub-Total 4,659 1,773 - 1,773 2,887 4,659 Total 36,171 11,542 2,625 8,916 24,629 33,546 * Excludes arrears on principal and charges overdue which will need to be cleared prior to the country reaching decision point under the HIPC Initiative. Note: Foreign exchange rates are based on MDRI and HIPC FX reference rates. - 8 - Table 1b International Development Association Total Debt Relief to be Delivered by IDA: Estimated Volume since Inception of the HIPC Initiative (FY1996-2044) as of December 31, 2006 (USDeq. millions) Total HIPC Debt Relief MDRI Debt Relief HIPC + MDRI Costs Debt Relief Total HIPC Delivered To be Delivered To be Delivered To be Financed by Donors by IDA pre-July 2006 post July 1, 2006 Post July 1, 2006 Post July 1, 2006 (A+B+C) (A+B) (A) (B) (C) (B+C) Completion Point Countries (21) Benin 815 124 44 80 691 771 Bolivia 1,814 287 122 165 1,526 1,692 Burkina Faso 1,160 420 232 188 741 928 Cameroon 1,122 299 99 201 823 1,024 Ethiopia 3,630 1,288 173 1,116 2,342 3,458 Ghana 4,440 1,446 208 1,238 2,994 4,233 Guyana 322 133 74 59 189 248 Honduras 1,366 172 114 58 1,194 1,251 Madagascar 2,225 444 93 351 1,780 2,131 Malawi 2,217 994 115 878 1,223 2,102 Mauritania 725 173 40 133 552 685 Mali 1,562 292 146 146 1,270 1,416 Mozambique 2,374 1,055 1,025 30 1,319 1,349 Nicaragua 1,155 383 50 333 773 1,105 Niger 1,157 410 65 345 748 1,093 Rwanda 1,061 709 84 625 351 976 Senegal 2,030 164 83 81 1,866 1,947 Republic of Sierra Leone 620 233 34 200 387 586 Tanzania 3,981 1,157 277 880 2,824 3,704 Uganda 3,776 984 478 505 2,792 3,298 Zambia 2,768 885 147 738 1,882 2,620 Sub-Total 40,320 12,051 3,702 8,349 28,268 36,617 Decision Point Countries (9) Burundi 792 773 19 754 19 773 Chad 854 107 28 78 747 826 Congo, Republic of 241 71 1 70 170 240 Congo, Democratic Republic of 2,010 1,031 100 931 979 1,910 Gambia, The 246 32 12 20 214 234 Guinea 1,334 234 66 167 1,100 1,268 Guinea-Bissau 304 180 29 151 125 275 Haiti 484 21 - 21 462 484 Sao Tome and Principe 84 46 8 38 38 76 Sub-Total 6,348 2,494 263 2,231 3,854 6,085 Pre-Decision Point Countries (10) Central African Republic 419 312 - 312 107 419 Cote d'Ivoire* 1,919 388 - 388 1,531 1,919 Eritrea 374 207 - 207 166 374 Kyrgyz Republic 584 164 - 164 420 584 Liberia* 83 36 - 36 47 83 Nepal 1,314 350 - 350 964 1,314 Somalia* 359 283 - 283 76 359 Sudan* 1,062 639 - 639 423 1,062 Togo* 656 174 - 174 483 656 Union of the Comoros 115 68 - 68 47 115 Sub-Total 6,886 2,621 - 2,621 4,264 6,886 Total 53,553 17,166 3,965 13,201 36,387 49,588 * Excludes arrears on principal and charges overdue which will need to be cleared prior to the country reaching decision point under the HIPC Initiative. Note: Foreign exchange rates are based on MDRI and HIPC FX reference rates. - 9 - Table 2a International Development Association Estimated HIPC and MDRI Debt Relief by IDA, from IDA14 Period (FY06-44) By HIPC Country as of December 31, 2006 (SDReq. million) Actual/Estimated Total Debt HIPC MDRI Credit Currency Completion Relief Debt Debt Principal Charges SDR USD Completion Point countries (21) Point Date by IDA Relief Relief Benin 03/31/2003 527 60 468 474 53 497 31 Bolivia 06/30/2001 1,154 121 1,033 1,033 121 1,114 40 Burkina Faso 04/30/2002 640 139 501 568 72 631 9 Cameroon 04/30/2006 695 137 557 619 76 599 96 Ethiopia 04/30/2004 2,377 792 1,585 2,104 273 2,242 136 Ghana 07/31/2004 2,900 873 2,027 2,597 303 2,821 78 Guyana 12/31/2003 170 42 128 152 17 170 - Honduras 04/30/2005 853 45 808 756 97 819 34 Madagascar 10/31/2004 1,455 250 1,205 1,297 157 1,350 105 Malawi 08/31/2006 1,438 609 828 1,290 147 1,361 77 Mauritania 03/31/2003 468 95 373 418 50 452 16 Mali 06/30/2002 968 108 860 866 102 930 37 Mozambique 09/30/2001 919 27 893 815 105 919 - Nicaragua 01/31/2004 756 233 523 666 90 731 25 Niger 06/30/2004 750 244 506 666 84 699 51 Rwanda 06/30/2005 673 435 238 599 74 622 51 Senegal 04/30/2004 1,329 66 1,263 1,190 139 1,253 77 Republic of Sierra Leone 12/31/2006 403 141 262 358 45 269 134 Tanzania 11/30/2001 2,538 626 1,912 2,274 264 2,309 229 Uganda 05/31/2000 2,251 361 1,890 2,007 244 2,251 - Zambia 04/30/2005 1,797 522 1,274 1,597 200 1,777 19 Sub-total 25,060 5,926 19,134 22,347 2,712 23,816 1,244 Decision Point countries (9) Burundi 06/30/2007 529 517 13 477 52 Chad 12/30/2007 563 57 506 504 59 Congo, Republic of 12/30/2009 163 48 115 148 15 Congo, Democratic Republic of 06/30/2007 1,315 652 662 1,166 149 Gambia, The 05/31/2007 160 15 145 144 15 Guinea 05/30/2007 867 122 745 784 83 Guinea-Bissau 12/30/2009 190 106 84 173 17 Haiti 10/30/2009 327 14 313 300 27 Sao Tome and Principe 03/31/2007 52 27 25 47 5 Sub-total 4,166 1,557 2,609 3,743 423 Pre-decision Point countries (10) Central African Republic 06/30/2010 284 211 72 260 24 Cote d'Ivoire* 05/30/2010 1,298 262 1,036 1,179 119 Eritrea 12/30/2010 253 140 113 223 30 Kyrgyz Republic 02/28/2008 395 111 284 357 38 Liberia* 06/30/2010 56 24 32 52 4 Nepal 12/30/2010 890 237 653 814 76 Somalia* 06/30/2010 243 192 52 224 20 Sudan* 06/30/2010 719 433 286 663 56 Togo * 10/31/2010 444 117 327 408 36 Union of the Comoros 05/30/2010 78 46 32 71 7 Sub-total 4,659 1,773 2,887 4,249 410 GRAND TOTAL 33,885 9,256 24,629 30,339 3,546 * Excludes arrears on principal and charges overdue which will need to be cleared prior to the country reaching decision point under the HIPC Initiative. Note: Foreign exchange rates are based on MDRI and HIPC FX reference rates. - 10 - Table 2b International Development Association Estimated HIPC and MDRI Debt Relief by IDA, from IDA14 Period (FY06-44) By HIPC Country as of December 31, 2006 (USDeq. million) Actual/Estimated Total Debt HIPC MDRI Credit Currency Completion Relief Debt Debt Principal Charges SDR USD Completion Point countries (21) Point Date by IDA Relief Relief Benin 03/31/2003 780 89 691 701 78 734 45 Bolivia 06/30/2001 1,706 180 1,526 1,528 179 1,647 59 Burkina Faso 04/30/2002 947 206 741 841 106 933 14 Cameroon 04/30/2006 1,027 204 823 915 112 886 141 Ethiopia 04/30/2004 3,516 1,175 2,342 3,112 404 3,316 201 Ghana 07/31/2004 4,288 1,293 2,994 3,840 447 4,172 116 Guyana 12/31/2003 251 62 189 225 26 251 - Honduras 04/30/2005 1,261 67 1,194 1,117 143 1,210 50 Madagascar 10/31/2004 2,151 370 1,780 1,918 232 1,996 155 Malawi 08/31/2006 2,126 903 1,223 1,909 218 2,012 114 Mauritania 03/31/2003 1,431 160 1,270 1,280 150 1,380 50 Mali 06/30/2002 692 141 552 618 75 666 27 Mozambique 09/30/2001 1,359 40 1,319 1,205 155 1,359 - Nicaragua 01/31/2004 1,118 345 773 984 134 1,081 37 Niger 06/30/2004 1,109 361 748 985 124 1,034 75 Rwanda 06/30/2005 996 644 351 886 110 921 75 Senegal 04/30/2004 1,965 99 1,866 1,759 206 1,852 113 Republic of Sierra Leone 12/31/2006 596 209 387 529 67 398 198 Tanzania 11/30/2001 3,753 929 2,824 3,363 389 3,415 338 Uganda 05/31/2000 3,327 535 2,792 2,967 360 3,327 - Zambia 04/30/2005 2,657 774 1,882 2,361 295 2,628 28 Sub-total 37,054 8,786 28,268 33,044 4,010 35,218 1,836 Decision Point countries (9) Burundi 06/30/2007 783 765 19 706 77 Chad 12/30/2007 832 84 747 745 87 Congo, Republic of 12/30/2009 241 71 170 218 23 Congo, Democratic Republic of 06/30/2007 1,945 966 979 1,725 220 Gambia, The 05/31/2007 236 22 214 214 23 Guinea 05/30/2007 1,281 181 1,100 1,159 123 Guinea-Bissau 12/30/2009 281 157 125 256 26 Haiti 10/30/2009 484 21 462 443 40 Sao Tome and Principe 03/31/2007 77 39 38 69 8 Sub-total 6,161 2,307 3,854 5,535 626 Pre-decision Point countries (10) Central African Republic 06/30/2010 419 312 107 385 35 Cote d'Ivoire* 05/30/2010 1,919 388 1,531 1,742 177 Eritrea 12/30/2010 374 207 166 329 45 Kyrgyz Republic 02/28/2008 584 164 420 527 57 Liberia* 06/30/2010 83 36 47 77 6 Nepal 12/30/2010 1,314 350 964 1,203 112 Somalia* 06/30/2010 359 283 76 331 29 Sudan* 06/30/2010 1,062 639 423 979 83 Togo * 10/31/2010 656 174 483 603 53 Union of the Comoros 05/30/2010 115 68 47 104 11 Sub-total 6,886 2,621 4,264 6,279 607 GRAND TOTAL 50,101 13,714 36,387 44,859 5,242 * Excludes arrears on principal and charges overdue which will need to be cleared prior to the country reaching decision point under the HIPC Initiative. Note: Foreign exchange rates are based on MDRI and HIPC FX reference rates. - 11 - Table 3a International Development Association Estimated HIPC and MDRI Debt Relief by IDA, from IDA14 Period (FY06-44) By Fiscal Year as of December 31, 2006 (SDReq. million) Total Of which Of which 21 CP HIPCs 9 DP HIPCs 10 pre-DP HIPCs 40 Countries HIPC MDRI Principal Charges FY06 289 50 - 339 339 - 305 35 FY07 557 67 3 626 383 243 455 171 FY08 601 95 66 761 468 293 569 192 FY09 650 111 126 888 562 325 690 198 FY10 686 127 124 938 569 368 742 195 FY11 732 134 156 1,022 560 462 820 202 FY12 782 137 173 1,092 577 515 893 199 FY13 818 146 178 1,143 601 542 951 192 FY14 851 149 180 1,180 614 565 995 185 FY15 871 152 186 1,209 600 608 1,031 178 FY16 890 153 189 1,233 582 651 1,063 170 Subtotal, to FY16 7,727 1,321 1,381 10,430 5,856 4,574 8,514 1,915 FY17 906 153 196 1,256 584 672 1,095 162 FY18 920 154 198 1,272 570 702 1,119 153 FY19 940 154 202 1,296 561 736 1,152 145 FY20 953 154 207 1,315 426 888 1,178 137 FY21 966 155 213 1,334 291 1,043 1,205 129 FY22 981 156 208 1,345 209 1,136 1,226 119 FY23 982 163 202 1,347 157 1,191 1,238 109 FY24 971 163 199 1,334 144 1,190 1,234 100 FY25 961 161 197 1,318 136 1,183 1,228 91 FY26 949 158 194 1,301 116 1,185 1,220 82 FY27 939 156 178 1,272 62 1,209 1,200 72 FY28 918 152 164 1,235 36 1,199 1,171 63 FY29 870 136 149 1,154 21 1,133 1,100 55 FY30 818 119 139 1,077 19 1,058 1,030 47 FY31 747 107 122 976 16 960 937 39 FY32 670 100 110 880 12 868 847 32 FY33 593 89 98 781 9 772 755 26 FY34 513 81 84 678 8 670 658 20 FY35 438 72 65 575 8 567 559 16 FY36 363 59 52 475 6 469 463 12 FY37 290 48 34 372 5 367 363 8 FY38 225 37 24 286 4 281 280 6 FY39 168 33 14 215 1 214 211 4 FY40 126 30 12 168 - 168 166 2 FY41 82 27 8 117 - 117 116 1 FY42 32 22 5 59 - 59 58 0 FY43 11 4 2 17 - 17 17 0 FY44 - 1 1 2 - 2 2 0 Total, FY07-44 25,060 4,166 4,659 33,885 9,256 24,629 30,339 3,546 Note: Foreign exchange rates are based on MDRI and HIPC FX reference rates. - 12 - Table 3b International Development Association Estimated HIPC and MDRI Debt Relief by IDA, from IDA14 Period (FY06-44) By Fiscal Year as of December 31, 2006 (USDeq. million) Total Of which Of which 21 CP HIPCs 9 DP HIPCs 10 pre-DP HIPCs 40 Countries HIPC MDRI Principal Charges FY06 437 76 - 513 513 - 460 53 FY07 833 101 4 938 578 359 684 253 FY08 899 142 99 1,140 707 433 855 284 FY09 961 164 186 1,311 831 480 1,019 292 FY10 1,014 188 183 1,385 841 544 1,097 288 FY11 1,081 198 231 1,510 827 683 1,211 299 FY12 1,155 202 256 1,613 852 761 1,319 294 FY13 1,209 216 264 1,689 888 801 1,405 284 FY14 1,257 220 266 1,743 908 835 1,470 273 FY15 1,287 224 275 1,786 887 899 1,523 262 FY16 1,315 227 279 1,821 860 961 1,570 251 Subtotal, to FY16 11,447 1,958 2,043 15,448 8,690 6,757 12,615 2,833 FY17 1,339 227 290 1,856 863 993 1,617 239 FY18 1,359 227 293 1,879 842 1,037 1,653 227 FY19 1,389 228 298 1,915 829 1,087 1,701 214 FY20 1,409 228 306 1,942 630 1,312 1,740 202 FY21 1,427 229 315 1,971 430 1,541 1,781 190 FY22 1,450 230 308 1,988 309 1,679 1,812 176 FY23 1,451 241 299 1,990 231 1,759 1,829 162 FY24 1,435 241 294 1,970 213 1,758 1,822 148 FY25 1,420 237 291 1,948 201 1,747 1,814 134 FY26 1,403 233 287 1,922 172 1,751 1,802 121 FY27 1,387 230 262 1,879 92 1,787 1,772 107 FY28 1,357 225 243 1,824 53 1,772 1,731 93 FY29 1,285 201 220 1,705 31 1,674 1,625 81 FY30 1,209 176 205 1,590 28 1,563 1,521 69 FY31 1,104 157 181 1,442 24 1,418 1,384 58 FY32 989 148 162 1,300 18 1,282 1,252 48 FY33 877 132 144 1,153 13 1,140 1,115 38 FY34 758 120 124 1,002 12 990 972 30 FY35 647 107 96 849 11 838 826 23 FY36 537 88 77 701 8 693 684 17 FY37 428 71 50 549 7 542 537 12 FY38 332 54 36 422 6 416 414 9 FY39 248 49 20 317 1 316 311 6 FY40 186 45 18 249 - 249 245 3 FY41 121 40 12 173 - 173 171 2 FY42 47 33 7 87 - 87 86 1 FY43 16 6 3 25 - 25 25 0 FY44 - 1 2 3 - 3 3 0 Total, FY06-44 37,054 6,161 6,886 50,101 13,714 36,387 44,858 5,242 Note: Foreign exchange rates are based on MDRI and HIPC FX reference rates. - 13 - Table 4a International Development Association Estimated HIPC and MDRI Debt Relief by IDA, from IDA14 Period (FY06-44) By HIPC Country and IDA Replenishment as of December 31, 2006 (SDReq. million) HIPC and MDRI Relief by IDA IDA14 IDA15 IDA16 First Decade Total Relief FY06-08 FY09-11 FY12-14 FY06-16 FY06-44 Completion Point countries (21) Benin 35 50 57 181 527 Bolivia 60 98 119 368 1,154 Burkina Faso 42 47 62 195 640 Cameroon 36 58 59 199 695 Ethiopia 140 185 219 697 2,377 Ghana 181 255 299 946 2,900 Guyana 10 14 18 55 170 Honduras 39 61 75 230 853 Madagascar 83 129 144 454 1,455 Malawi 86 134 153 481 1,438 Mali 58 84 98 309 968 Mauritiania 27 40 46 144 468 Mozambique 42 64 80 250 919 Nicaragua 33 49 61 189 756 Niger 47 62 70 229 750 Rwanda 45 57 66 215 673 Senegal 79 122 136 431 1,329 Sierra Leone 23 28 35 114 403 Tanzania 161 222 268 839 2,538 Uganda 120 179 224 686 2,251 Zambia 101 133 161 516 1,797 Sub-total 1,447 2,069 2,451 7,727 25,060 Decision Point countries (9) Burundi 36 54 60 190 529 Chad 17 46 54 157 563 Congo, Rep. of 5 10 15 45 163 Congo, Dem. Rep. of 83 107 122 398 1,315 Gambia, The 8 15 17 52 160 Guinea 43 87 96 291 867 Guinea-Bissau 13 18 21 66 190 Haiti 4 31 41 104 327 Sao Tome and Principe 3 5 6 18 52 Sub-total 212 373 432 1,321 4,166 Pre-decision Point countries (10) Central African Republic 9 33 38 106 284 Cote d'Ivoire* 37 99 124 354 1,298 Eritrea 2 11 19 46 253 Kyrgyz Republic 10 29 30 94 395 Liberia* - 7 9 22 56 Nepal - 51 109 238 890 Somalia* - 30 33 84 243 Sudan* - 93 105 267 719 Togo* 10 47 56 151 444 Union of the Comoros 1 5 8 20 78 Sub-total 68 406 532 1,381 4,659 GRAND TOTAL 1,727 2,847 3,415 10,430 33,885 * Excludes arrears on principal and charges overdue which will need to be cleared prior to the country reaching decision point under the HIPC Initiative. Note: Foreign exchange rates are based on MDRI and HIPC FX reference rates. - 14 - Table 4b International Development Association Estimated HIPC and MDRI Debt Relief by IDA, from IDA14 Period (FY06-44) By HIPC Country and IDA Replenishment as of December 31, 2006 (USDeq. million) HIPC and MDRI Relief by IDA IDA14 IDA15 IDA16 First Decade Total Relief FY06-08 FY09-11 FY12-14 FY06-16 FY06-44 Completion Point countries (21) Benin 52 74 84 268 780 Bolivia 90 144 176 545 1,706 Burkina Faso 63 69 91 289 947 Cameroon 53 86 86 294 1,027 Ethiopia 210 273 323 1,033 3,516 Ghana 271 376 442 1,402 4,288 Guyana 15 21 26 81 251 Honduras 58 89 111 341 1,261 Madagascar 124 190 213 672 2,151 Malawi 130 198 227 713 2,126 Mali 87 124 144 457 1,431 Mauritiania 40 58 67 213 692 Mozambique 62 95 119 369 1,359 Nicaragua 49 72 91 280 1,118 Niger 71 92 103 339 1,109 Rwanda 69 84 98 319 996 Senegal 118 180 201 638 1,965 Sierra Leone 34 41 52 169 596 Tanzania 241 328 397 1,243 3,753 Uganda 179 265 331 1,015 3,327 Zambia 152 196 239 766 2,657 Sub-total 2,168 3,056 3,621 11,447 37,054 Decision Point countries (9) Burundi 54 79 88 282 783 Chad 26 68 79 232 832 Congo, Rep. of 8 15 23 67 241 Congo, Dem. Rep. of 125 158 180 590 1,945 Gambia, The 12 23 25 77 236 Guinea 64 128 142 431 1,281 Guinea-Bissau 19 26 32 98 281 Haiti 7 46 60 154 484 Sao Tome and Principe 5 7 9 27 77 Sub-total 319 551 638 1,958 6,161 Pre-decision Point countries (10) Central African Republic 14 49 56 157 419 Cote d'Ivoire* 56 147 183 524 1,919 Eritrea 2 17 29 68 374 Kyrgyz Republic 15 42 45 139 584 Liberia* - 11 13 32 83 Nepal - 76 161 352 1,314 Somalia* - 44 48 124 359 Sudan* - 137 156 395 1,062 Togo* 15 69 83 223 656 Union of the Comoros 2 7 12 29 115 Sub-total 103 600 786 2,043 6,886 GRAND TOTAL 2,590 4,206 5,045 15,448 50,101 * Excludes arrears on principal and charges overdue which will need to be cleared prior to the country reaching decision point under the HIPC Initiative. Note: Foreign exchange rates are based on MDRI and HIPC FX reference rates. - 15 - Table 5a International Development Association Estimated HIPC Debt Relief by IDA, from IDA14 Period (FY06-44) By HIPC Country and IDA Replenishment as of December 31, 2006 (SDReq. million) HIPC Relief by IDA IDA14 IDA15 IDA16 First Decade Total Relief FY06-08 FY09-11 FY12-14 FY06-16 FY06-44 Completion Point countries (21) Benin 17 20 22 60 60 Bolivia 31 40 46 121 121 Burkina Faso 26 22 28 97 139 Cameroon 18 26 26 91 137 Ethiopia 124 155 183 590 792 Ghana 117 142 162 535 873 Guyana 6 7 8 27 42 Honduras 19 24 2 45 45 Madagascar 42 51 54 184 250 Malawi 72 111 127 398 609 Mali 29 34 38 108 108 Mauritiania 16 19 21 69 95 Mozambique 21 6 - 27 27 Nicaragua 25 31 35 119 233 Niger 37 44 49 164 244 Rwanda 42 52 60 195 435 Senegal 39 27 - 66 66 Sierra Leone 19 21 25 85 141 Tanzania 102 120 136 452 626 Uganda 60 70 82 272 361 Zambia 77 85 100 339 522 Sub-total 939 1,104 1,205 4,043 5,926 Decision Point countries (9) Burundi 35 51 58 184 517 Chad 13 18 19 57 57 Congo, Rep. of 5 7 9 29 48 Congo, Dem. Rep. of 77 88 97 329 652 Gambia, The 5 6 3 15 15 Guinea 29 37 40 122 122 Guinea-Bissau 13 15 16 55 106 Haiti 4 10 - 14 14 Sao Tome and Principe 3 4 5 14 27 Sub-total 185 237 247 819 1,557 Pre-decision Point countries (10) Central African Republic 9 31 32 94 211 Cote d'Ivoire* 37 83 63 230 262 Eritrea 2 11 17 42 140 Kyrgyz Republic 8 17 19 59 111 Liberia* - 6 5 14 24 Nepal - 44 64 155 237 Somalia* - 29 29 76 192 Sudan* - 82 74 205 433 Togo* 10 42 30 102 117 Union of the Comoros 1 5 7 18 46 Sub-total 66 350 340 994 1,773 GRAND TOTAL 1,190 1,691 1,792 5,856 9,256 * Excludes arrears on principal and charges overdue which will need to be cleared prior to the country reaching decision point under the HIPC Initiative. Note: Foreign exchange rates are based on MDRI and HIPC FX reference rates. - 16 - Table 5b International Development Association Estimated HIPC Debt Relief by IDA, from IDA14 Period (FY06-44) By HIPC Country and IDA Replenishment as of December 31, 2006 (USDeq. million) HIPC Relief by IDA IDA14 IDA15 IDA16 First Decade Total Relief FY06-08 FY09-11 FY12-14 FY06-16 FY06-44 Completion Point countries (21) Benin 26 29 33 89 89 Bolivia 47 59 68 180 180 Burkina Faso 40 33 42 145 206 Cameroon 27 39 38 134 204 Ethiopia 187 229 270 876 1,175 Ghana 176 209 240 795 1,293 Guyana 9 10 13 40 62 Honduras 29 35 3 67 67 Madagascar 64 75 79 273 370 Malawi 108 164 187 590 903 Mali 45 51 56 160 160 Mauritiania 24 27 30 103 141 Mozambique 31 9 - 40 40 Nicaragua 38 45 52 176 345 Niger 55 65 73 243 361 Rwanda 64 76 89 290 644 Senegal 59 40 - 99 99 Sierra Leone 29 31 36 126 209 Tanzania 155 177 202 671 929 Uganda 90 104 122 403 535 Zambia 116 125 148 503 774 Sub-total 1,419 1,632 1,780 6,004 8,786 Decision Point countries (9) Burundi 53 76 85 273 765 Chad 20 27 29 84 84 Congo, Rep. of 8 11 13 43 71 Congo, Dem. Rep. of 116 129 144 488 966 Gambia, The 8 9 5 22 22 Guinea 44 55 59 181 181 Guinea-Bissau 19 23 24 82 157 Haiti 7 15 - 21 21 Sao Tome and Principe 4 5 7 21 39 Sub-total 279 350 365 1,216 2,307 Pre-decision Point countries (10) Central African Republic 14 46 48 139 312 Cote d'Ivoire* 56 123 92 341 388 Eritrea 2 16 25 62 207 Kyrgyz Republic 12 25 28 87 164 Liberia* - 9 7 21 36 Nepal - 65 95 229 350 Somalia* - 42 42 112 283 Sudan* - 121 110 303 639 Togo* 15 63 44 151 174 Union of the Comoros 2 7 10 26 68 Sub-total 100 517 502 1,470 2,621 GRAND TOTAL 1,798 2,499 2,647 8,690 13,714 * Excludes arrears on principal and charges overdue which will need to be cleared prior to the country reaching decision point under the HIPC Initiative. Note: Foreign exchange rates are based on MDRI and HIPC FX reference rates. - 17 - Table 6a International Development Association Estimated MDRI Debt Relief by IDA, from July 2006 (FY07-44) By HIPC Country and IDA Replenishment as of December 31, 2006 (SDReq. million) MDRI Relief by IDA IDA14 IDA15 IDA16 First Decade Total Relief FY07-08 FY09-11 FY12-14 FY07-16 FY07-44 Completion Point countries (21) Benin 18 30 35 122 468 Bolivia 29 57 73 247 1,033 Burkina Faso 16 25 33 98 501 Cameroon 18 32 33 108 557 Ethiopia 16 30 36 106 1,585 Ghana 64 113 137 411 2,027 Guyana 4 7 9 28 128 Honduras 20 37 73 185 808 Madagascar 41 77 90 270 1,205 Malawi 14 23 27 83 828 Mali 29 50 60 201 860 Mauritiania 11 21 25 75 373 Mozambique 21 58 80 223 893 Nicaragua 7 18 26 70 523 Niger 11 18 21 65 506 Rwanda 3 5 6 19 238 Senegal 40 95 136 365 1,263 Sierra Leone 4 7 11 29 262 Tanzania 59 102 132 387 1,912 Uganda 60 109 141 414 1,890 Zambia 24 48 61 178 1,274 Sub-total 507 964 1,246 3,684 19,134 Decision Point countries (9) Burundi 1 3 2 6 13 Chad 4 28 34 100 506 Congo, Rep. of - 3 7 16 115 Congo, Dem. Rep. of 6 19 24 69 662 Gambia, The 2 9 14 37 145 Guinea 14 49 56 169 745 Guinea-Bissau - 2 5 11 84 Haiti - 21 41 90 313 Sao Tome and Principe 0 1 2 4 25 Sub-total 27 136 184 502 2,609 Pre-decision Point countries (10) Central African Republic - 2 6 12 72 Cote d'Ivoire* - 16 61 124 1,036 Eritrea - 0 2 4 113 Kyrgyz Republic 2 12 11 35 284 Liberia* - 1 4 7 32 Nepal - 7 45 84 653 Somalia* - 1 4 8 52 Sudan* - 11 31 62 286 Togo* - 4 26 49 327 Union of the Comoros - 0 1 2 32 Sub-total 2 56 192 387 2,887 GRAND TOTAL 536 1,156 1,623 4,574 24,629 * Excludes arrears on principal and charges overdue which will need to be cleared prior to the country reaching decision point under the HIPC Initiative. Note: Foreign exchange rates are based on MDRI and HIPC FX reference rates. - 18 - Table 6b International Development Association Estimated MDRI Debt Relief by IDA, from July 2006 (FY07-44) By HIPC Country and IDA Replenishment as of December 31, 2006 (USDeq. million) MDRI Relief by IDA IDA14 IDA15 IDA16 First Decade Total Relief FY07-08 FY09-11 FY12-14 FY07-16 FY07-44 Completion Point countries (21) Benin 26 45 51 180 691 Bolivia 43 85 109 365 1,526 Burkina Faso 23 36 49 145 741 Cameroon 26 48 49 160 823 Ethiopia 23 44 53 157 2,342 Ghana 95 167 202 607 2,994 Guyana 6 11 14 41 189 Honduras 29 54 108 274 1,194 Madagascar 60 114 133 399 1,780 Malawi 21 35 40 123 1,223 Mali 43 73 88 297 1,270 Mauritiania 16 31 37 110 552 Mozambique 31 86 119 329 1,319 Nicaragua 11 27 39 104 773 Niger 16 27 31 96 748 Rwanda 5 8 9 29 351 Senegal 59 140 201 539 1,866 Sierra Leone 6 11 16 43 387 Tanzania 87 151 195 572 2,824 Uganda 89 161 209 611 2,792 Zambia 36 71 90 262 1,882 Sub-total 749 1,424 1,841 5,443 28,268 Decision Point countries (9) Burundi 1 4 3 9 19 Chad 5 41 51 148 747 Congo, Rep. of - 4 10 23 170 Congo, Dem. Rep. of 9 28 36 102 979 Gambia, The 4 13 20 55 214 Guinea 20 73 83 250 1,100 Guinea-Bissau - 4 8 16 125 Haiti - 31 60 132 462 Sao Tome and Principe 1 2 2 6 38 Sub-total 40 201 273 742 3,854 Pre-decision Point countries (10) Central African Republic - 3 9 18 107 Cote d'Ivoire* - 24 91 183 1,531 Eritrea - 1 3 6 166 Kyrgyz Republic 3 18 17 52 420 Liberia* - 2 5 11 47 Nepal - 11 66 124 964 Somalia* - 2 6 12 76 Sudan* - 16 46 91 423 Togo* - 7 39 72 483 Union of the Comoros - 0 2 3 47 Sub-total 3 82 284 572 4,264 GRAND TOTAL 792 1,708 2,397 6,757 36,387 * Excludes arrears on principal and charges overdue which will need to be cleared prior to the country reaching decision point under the HIPC Initiative. Note: Foreign exchange rates are based on MDRI and HIPC FX reference rates. - 19 - Table 7 International Development Association MDRI Financing Summary IoCs Received as of December 31, 2006* (SDR equivalent millions) Remaining IDA14 Remainder of First Sub-total for Subsequent 3 Financing received Total MDRI Costs Period Decade First Decade Decades from IDA donors (FY07-08) (FY09-16) (FY07-16) (FY17-44) (FY07-44) SDRm in % SDRm in % SDRm in % SDRm in % SDRm in % Unqualified Financing 412 75.4% 2,049 43.4% 2,461 46.7% 116 0.6% 2,577 10.4% Qualified Financing 104 19.0% 1,272 26.9% 1,375 26.1% 12,484 63.9% 13,859 55.9% Subtotal 515 94.4% 3,321 70.3% 3,837 72.8% 12,600 64.5% 16,437 66.3% To be committed 31 5.6% 1,400 29.7% 1,431 27.2% 6,929 35.5% 8,360 33.7% Total 546 100.0% 4,721 100.0% 5,268 100.0% 19,529 100.0% 24,796 100.0% * Based on original MDRI cost estimates - 20 - Table 8a International Development Association Donor Pledges to the MDRI* as of December 31, 2006 (SDR millions) Remaining IDA14 Period Remainder of First Decade Subsequent 3 Decades Grand Total Donors (FY07-08) (FY09-16) (FY17-44) (FY07-44) Qualified Unqualified Total Qualified Unqualified Total Qualified Unqualified Total Amount Share IoCs Received To Date Australia - 8.8 8.8 - 75.9 75.9 - - - 84.7 0.34% Austria - 4.3 4.3 - 36.8 36.8 - - - 41.1 0.17% Belgium - 8.5 8.5 - - - - - - 8.5 0.03% Canada - 19.9 19.9 49.7 - 49.7 - - - 69.5 0.28% Czech Republic - 0.3 0.3 - 2.4 2.4 9.8 - 9.8 12.4 0.05% Denmark - 9.5 9.5 - 82.3 82.3 340.5 - 340.5 432.4 1.74% Finland - 3.6 3.6 - 31.3 31.3 - - - 34.9 0.14% France - 30.9 30.9 - 291.3 291.3 1,204.9 - 1,204.9 1,527.2 6.16% Germany - 46.5 46.5 - 467.3 467.3 1,933.0 - 1,933.0 2,446.8 9.87% Greece - 0.7 0.7 - 6.0 6.0 24.9 - 24.9 31.7 0.13% Iceland - 0.2 0.2 - 1.9 1.9 - - - 2.1 0.01% Ireland - 1.1 1.1 - 9.4 9.4 - 38.8 38.8 49.3 0.20% Italy - 19.8 19.8 187.0 - 187.0 773.3 - 773.3 980.1 3.95% Japan - 71.6 71.6 - - - - - - 71.6 0.29% Luxembourg - 0.5 0.5 4.7 - 4.7 19.5 - 19.5 24.8 0.10% Netherlands - 15.7 15.7 - 135.5 135.5 560.3 - 560.3 711.5 2.87% New Zealand - 0.7 0.7 - 6.3 6.3 25.9 - 25.9 32.8 0.13% Norway 5.2 3.9 9.2 79.2 - 79.2 - - - 88.4 0.36% Poland - 0.2 0.2 - 1.4 1.4 5.9 - 5.9 7.5 0.03% Portugal - 1.2 1.2 - 10.4 10.4 - 43.1 43.1 54.7 0.22% Russian Fed. - 0.5 0.5 - 4.2 4.2 - 17.2 17.2 21.9 0.09% Slovak Republic - 0.1 0.1 - - - - - - 0.1 0.00% Slovenia - 0.2 0.2 1.4 - 1.4 5.9 - 5.9 7.4 0.03% South Africa - 0.5 0.5 - 4.2 4.2 - 17.2 17.2 21.9 0.09% Spain - 10.8 10.8 - 93.8 93.8 387.9 - 387.9 492.6 1.99% Sweden - 15.8 15.8 - 136.5 136.5 564.7 - 564.7 717.0 2.89% United Kingdom - 77.1 77.1 - 652.5 652.5 2,698.9 - 2,698.9 3,428.4 13.83% United States 98.5 58.9 157.4 949.8 - 949.8 3,928.2 - 3,928.2 5,035.4 20.31% Sub-total 103.7 411.8 515.4 1,271.8 2,049.3 3,321.1 12,483.6 116.4 12,600.0 16,436.5 66.29% IoCs Not Yet Received Hungary - 0.3 0.3 2.8 - 2.8 - - - 3.1 0.01% Korea, Rep. of - 5.5 5.5 - 47.4 47.4 196.1 - 196.1 249.0 1.00% Kuwait - 0.8 0.8 - 7.3 7.3 30.2 - 30.2 38.3 0.15% Saudi Arabia - 2.2 2.2 - 5.0 5.0 - - - 7.2 0.03% Singapore - 0.8 0.8 - 6.7 6.7 27.7 - 27.7 35.2 0.14% Switzerland 14.6 - 14.6 - - - - - - 14.6 0.06% Sub-total 14.6 9.6 24.2 2.8 66.4 69.2 254.0 - 254.0 347.5 1.40% Total Pledges 118.3 421.3 539.7 1,274.6 2,115.7 3,390.4 12,737.6 116.4 12,854.0 16,784.0 67.69% Financing gap 6.5 1,331.0 6,674.8 8,012.4 32.31% Total MDRI Costs of IDA 546.2 4,721.4 19,528.8 24,796.4 100.00% * Based on original MDRI cost estimates Note: Totals may not add up due to rounding. - 21 - Table 8b International Development Association Donor Pledges to the MDRI* as of December 31, 2006 (National Currency millions) Remaining IDA14 Period Remainder of First Decade Subsequent 3 Decades Grand Total Donors (FY07-08) (FY09-16) (FY17-44) (FY07-44) Curr. Qualified Unqualified Total Qualified Unqualified Total Qualified Unqualified Total Amount Share IoCs Received To Date Australia AUD - 17.0 17.0 - 146.8 146.8 - - - 163.8 0.34% Austria SDR - 4.3 4.3 - 36.8 36.8 - - - 41.1 0.17% Belgium EUR - 10.1 10.1 - - - - - - 10.1 0.03% Canada CAD - 35.9 35.9 89.8 - 89.8 - - - 125.8 0.28% Czech Republic CZK - 9.7 9.7 - 84.1 84.1 347.9 - 347.9 441.7 0.05% Denmark DKK - 84.5 84.5 - 730.4 730.4 3,021.1 - 3,021.1 3,836.1 1.74% Finland EUR - 4.3 4.3 - 37.2 37.2 - - - 41.5 0.14% France EUR - 36.8 36.8 - 346.8 346.8 1,434.5 - 1,434.5 1,818.2 6.16% Germany SDR - 46.5 46.5 - 467.3 467.3 1,933.0 - 1,933.0 2,446.8 9.87% Greece EUR - 0.8 0.8 - 7.2 7.2 29.7 - 29.7 37.7 0.13% Iceland ISK - 22.8 22.8 - 178.2 178.2 - - - 200.9 0.01% Ireland EUR - 1.3 1.3 - 11.2 11.2 - 46.2 46.2 58.6 0.20% Italy EUR - 23.5 23.5 222.6 - 222.6 920.7 - 920.7 1,166.8 3.95% Japan JPY - 11,564.2 11,564.2 - - - - - - 11,564.2 0.29% Luxembourg EUR - 0.7 0.7 5.6 - 5.6 23.3 - 23.3 29.5 0.10% Netherlands EUR - 18.7 18.7 - 161.3 161.3 667.1 - 667.1 847.0 2.87% New Zealand NZD - 1.5 1.5 - 13.1 13.1 54.3 - 54.3 68.9 0.13% Norway NOK 49.6 37.4 86.9 751.5 - 751.5 - - - 838.4 0.36% Poland PLN - 0.9 0.9 - 6.9 6.9 28.5 - 28.5 36.2 0.03% Portugal EUR - 1.4 1.4 - 12.4 12.4 - 51.3 51.3 65.2 0.22% Russian Fed. SDR - 0.5 0.5 - 4.2 4.2 - 17.2 17.2 21.9 0.09% Slovak Republic SKK - 3.3 3.3 - - - - - - 3.3 0.00% Slovenia EUR - 0.2 0.2 1.7 - 1.7 7.0 - 7.0 8.9 0.03% South Africa ZAR - 4.6 4.6 - 39.8 39.8 - 164.6 164.6 209.0 0.09% Spain EUR - 12.9 12.9 - 111.7 111.7 461.8 - 461.8 586.4 1.99% Sweden SEK - 174.5 174.5 - 1,508.6 1,508.6 6,239.8 - 6,239.8 7,922.9 2.89% United Kingdom GBP - 62.5 62.5 - 529.1 529.1 2,188.4 - 2,188.4 2,780.0 13.83% United States USD 145.5 87.0 232.5 1,403.3 - 1,403.3 5,803.5 - 5,803.5 7,439.3 20.31% IoCs Not Yet Received Hungary HUF - 95.7 95.7 826.9 - 826.9 - - - 922.5 0.01% Korea, Rep. of KRW - 8,252.7 8,252.7 - 71,338.3 71,338.3 295,069.2 - 295,069.2 374,660.2 1.00% Kuwait KWD - 0.4 0.4 - 3.2 3.2 13.0 - 13.0 16.5 0.15% Saudi Arabia USD - 3.2 3.2 - 7.4 7.4 - - - 10.6 0.03% Singapore SGD - 1.9 1.9 - 16.5 16.5 68.3 - 68.3 86.7 0.14% Switzerland CHF 27.0 - 27.0 - - - - - - 27.0 0.06% * Based on original MDRI cost estimates - 22 - Table 9a International Development Association Donor Financing of IDA's Forgone Reflows due to the MDRI: Total Financing Commitments Received* as of December 31, 2006 (SDR equivalent millions) A B A-B Donors Shares Financing Commitments Received Target Contributions, Surplus/ (Shortfall) vs. Unqualified Qualified Total Received Based on Original Original Costs MDRI Cost Estimates SDRm SDRm SDRm SDRm (1) SDRm Australia 1.49% 84.71 - 84.71 369.29 (284.58) Austria 0.78% 41.08 - 41.08 193.41 (152.33) Belgium 1.55% 8.47 - 8.47 384.34 (375.88) Canada 3.90% 19.87 49.66 69.53 968.05 (898.53) Czech Republic 0.05% 2.63 9.76 12.40 12.40 0.00 Denmark 1.74% 91.85 340.52 432.37 432.37 0.00 Finland 0.61% 34.88 - 34.88 152.05 (117.17) France 6.16% 322.25 1,204.94 1,527.19 1,527.19 0.00 Germany 9.87% 513.80 1,933.00 2,446.80 2,446.80 0.00 Greece 0.13% 6.73 24.93 31.66 31.66 0.00 Hungary 0.06% - - - 14.73 (14.73) Iceland 0.04% 2.13 - 2.13 9.94 (7.81) Ireland 0.20% 49.26 - 49.26 49.26 0.00 Italy 3.95% 19.76 960.30 980.07 980.07 0.00 Japan 13.17% 71.64 - 71.64 3,265.40 (3,193.75) Korea, Republic of 0.91% - - - 226.16 (226.16) Kuwait 0.14% - - - 34.79 (34.79) Luxembourg 0.10% 0.55 24.25 24.80 24.80 0.00 Netherlands 2.87% 151.14 560.34 711.49 711.49 0.00 New Zealand 0.13% 6.97 25.86 32.84 32.84 0.00 Norway 1.68% 3.94 84.42 88.36 415.95 (327.59) Poland 0.03% 1.60 5.86 7.46 7.46 0.00 Portugal 0.22% 54.73 - 54.73 54.73 0.00 Russian Federation 0.09% 21.89 - 21.89 21.89 0.00 Saudi Arabia 0.39% - - - 97.81 (97.81) Singapore 0.14% - - - 35.21 (35.21) Slovak Republic 0.01% 0.07 - 0.07 3.27 (3.20) Slovenia 0.03% 0.17 7.27 7.44 7.44 0.00 South Africa 0.09% 21.89 - 21.89 21.89 0.00 Spain 1.99% 104.64 387.93 492.57 492.57 0.00 Sweden 2.89% 152.31 564.65 716.96 716.96 0.00 Switzerland 2.44% - - - 603.93 (603.93) United Kingdom 13.83% 729.57 2,698.87 3,428.44 3,428.44 0.00 United States 20.31% 58.91 4,976.53 5,035.43 5,035.44 0.00 Sub-total 22,810.03 Structural gap 8.01% 1,986.39 TOTAL 100.00% 2,577.45 13,859.10 16,436.55 24,796.42 (6,373.47) * Based on original MDRI cost estimates Note: Totals may not add up due to rounding. Exchange rates used: MDRI Replenishment Foreign Exchange Rate, USD/SDR: 1.47738 (1) According to "Additions to IDA Resources : Financing the Multilateral Debt Relief Initiative, March 28,2006" (2) Source: Resource Mobilization Department (FRM) - 23 - Table 9b International Development Association Donor Financing of IDA's Forgone Reflows due to the MDRI: Total Financing Commitments Received* as of December 31, 2006 (USD equivalent millions) A B A-B Donors Shares Financing Commitments Received Target Contributions, Surplus/ (Shortfall) vs. Unqualified Qualified Total Received Based on Original Original Costs MDRI Cost Estimates USDm USDm USDm USDm (1) USDm Australia 1.49% 125.16 - 125.16 545.58 (420.43) Austria 0.78% 60.69 - 60.69 285.74 (225.05) Belgium 1.55% 12.51 - 12.51 567.82 (555.31) Canada 3.90% 29.36 73.36 102.72 1,430.18 (1,327.46) Czech Republic 0.05% 3.89 14.43 18.32 18.32 0.00 Denmark 1.74% 135.70 503.07 638.77 638.77 0.00 Finland 0.61% 51.54 - 51.54 224.64 (173.10) France 6.16% 476.09 1,780.15 2,256.24 2,256.24 0.00 Germany 9.87% 759.08 2,855.78 3,614.85 3,614.85 0.00 Greece 0.13% 9.94 36.83 46.77 46.78 0.00 Hungary 0.06% - - - 21.76 (21.76) Iceland 0.04% 3.15 - 3.15 14.69 (11.54) Ireland 0.20% 72.77 - 72.77 72.77 0.00 Italy 3.95% 29.20 1,418.73 1,447.93 1,447.94 0.00 Japan 13.17% 105.84 - 105.84 4,824.23 (4,718.39) Korea, Republic of 0.91% - - - 334.13 (334.13) Kuwait 0.14% - - - 51.40 (51.40) Luxembourg 0.10% 0.81 35.83 36.63 36.63 0.00 Netherlands 2.87% 223.30 827.84 1,051.14 1,051.14 0.00 New Zealand 0.13% 10.30 38.21 48.52 48.51 0.00 Norway 1.68% 5.82 124.73 130.54 614.51 (483.97) Poland 0.03% 2.36 8.65 11.01 11.02 0.00 Portugal 0.22% 80.86 - 80.86 80.86 0.00 Russian Federation 0.09% 32.34 - 32.34 32.34 0.00 Saudi Arabia 0.39% - - - 144.51 (144.51) Singapore 0.14% - - - 52.03 (52.03) Slovak Republic 0.01% 0.11 - 0.11 4.84 (4.73) Slovenia 0.03% 0.25 10.75 10.99 10.99 0.00 South Africa 0.09% 32.34 - 32.34 32.34 0.00 Spain 1.99% 154.59 573.12 727.71 727.71 0.00 Sweden 2.89% 225.02 834.21 1,059.23 1,059.22 0.00 Switzerland 2.44% - - - 892.23 (892.23) United Kingdom 13.83% 1,077.85 3,987.26 5,065.11 5,065.11 (0.01) United States 20.31% 87.03 7,352.22 7,439.25 7,439.25 0.00 Sub-total 33,699.08 Structural gap 8.01% 2,934.65 TOTAL 100.00% 3,807.88 20,475.16 24,283.03 36,633.73 (9,416.04) * Based on original cost estimates Note: Totals may not add up due to rounding. Exchange rates used: MDRI Replenishment Foreign Exchange Rate, USD/SDR: 1.47738 (1) According to "Additions to IDA Resources : Financing the Multilateral Debt Relief Initiative, March 28,2006" (2) Source: Resource Mobilization Department (FRM) - 24 - Table 9c International Development Association Donor Financing of IDA's Forgone Reflows due to the MDRI: Total Financing Commitments Received* as of December 31, 2006 (National Currency millions) A B A-B Donors Shares Currency Financing Commitments Received Target Contributions, Surplus/ (Shortfall) vs. Unqualified Qualified Total Received Based on Original Original Costs MDRI Cost Estimates millions millions millions millions (1) million Australia 1.49% AUD 163.76 - 163.76 713.86 (550.10) Austria 0.78% SDR 41.08 - 41.08 193.41 (152.33) Belgium 1.55% EUR 10.08 - 10.08 457.57 (447.49) Canada 3.90% CAD 35.94 89.82 125.76 1,751.00 (1,625.24) Czech Republic 0.05% CZK 93.83 347.86 441.69 441.69 0.00 Denmark 1.74% DKK 814.92 3,021.14 3,836.06 3,836.06 0.00 Finland 0.61% EUR 41.53 - 41.53 181.02 (139.49) France 6.16% EUR 383.65 1,434.50 1,818.15 1,818.15 0.00 Germany 9.87% SDR 513.80 1,933.00 2,446.80 2,446.80 0.00 Greece 0.13% EUR 8.01 29.68 37.69 37.69 0.00 Hungary 0.06% HUF - - - 4,342.51 (4,342.51) Iceland 0.04% ISK 200.92 - 200.92 937.88 (736.96) Ireland 0.20% EUR 58.64 - 58.64 58.64 0.00 Italy 3.95% EUR 23.53 1,143.26 1,166.79 1,166.79 0.00 Japan 13.17% JPY 11,564.24 - 11,564.24 527,091.41 (515,527.17) Korea, Republic of 0.91% KRW - - - 340,268.52 (340,268.52) Kuwait 0.14% KWD - - - 15.01 (15.01) Luxembourg 0.10% EUR 0.65 28.87 29.52 29.52 0.00 Netherlands 2.87% EUR 179.94 667.10 847.04 847.04 0.00 New Zealand 0.13% NZD 14.64 54.29 68.93 68.93 0.00 Norway 1.68% NOK 37.36 801.05 838.41 3,946.66 (3,108.25) Poland 0.03% PLN 7.76 28.45 36.21 36.21 0.00 Portugal 0.22% EUR 65.16 - 65.16 65.16 0.00 Russian Federation 0.09% SDR 21.89 - 21.89 21.89 0.00 Saudi Arabia 0.39% USD - - - 144.51 (144.51) Singapore 0.14% SGD - - - 86.68 (86.68) Slovak Republic 0.01% SKK 3.33 - 3.33 151.14 (147.81) Slovenia 0.03% EUR 0.20 8.66 8.86 8.86 0.00 South Africa 0.09% ZAR 208.98 - 208.98 208.98 0.00 Spain 1.99% EUR 124.57 461.84 586.41 586.41 0.00 Sweden 2.89% SEK 1,683.10 6,239.78 7,922.88 7,922.88 0.00 Switzerland 2.44% CHF - - - 1,113.24 (1,113.24) United Kingdom 13.83% GBP 591.57 2,188.38 2,779.95 2,779.95 0.00 United States 20.31% USD 87.03 7,352.22 7,439.25 7,439.25 0.00 Sub-total Structural gap 8.01% TOTAL 100.00% * Based on original MDRI cost estimates Note: Totals may not add up due to rounding. (1) According to "Additions to IDA Resources : Financing the Multilateral Debt Relief Initiative, March 28,2006" (2) Source: Resource Mobilization Department (FRM) - 25 - Table 10a International Development Association Donor Financing of IDA's Forgone Reflows due to the MDRI: Firm Financing Commitments Received (Unqualified IoCs), by Period as of December 31, 2006 (SDR equivalent millions) Firm Financing Received (Unqualified IoCs) Contributions, Based on Original MDRI Cost Estimates Surplus/(Shortfall) vs. Original MDRI Cost Estimates Remaining Remainder of Subsequent 3 Remaining Remainder of Subsequent 3 Remaining Remainder of Subsequent 3 Total Total Total IDA14 period first decade decades IDA14 period first decade decades IDA14 period first decade decades Donors Shares FY07-08 FY09-16 FY17-44 FY07-44 FY07-08 FY09-16 FY17-44 FY07-44 FY07-08 FY09-16 FY17-44 FY07-44 A B C D E F G H A-E B-F C-G D-H SDRm SDRm SDRm SDRm SDRm SDRm SDRm SDRm SDRm SDRm SDRm SDRm Australia 1.49% 8.78 75.93 0.00 84.71 8.78 75.93 284.58 369.29 0.00 0.00 (284.58) (284.58) Austria 0.78% 4.26 36.82 0.00 41.08 4.26 36.83 152.32 193.41 (0.00) (0.01) (152.32) (152.33) Belgium 1.55% 8.47 0.00 0.00 8.47 8.47 73.18 302.70 384.34 0.00 (73.18) (302.70) (375.88) Canada 3.90% 19.87 0.00 0.00 19.87 19.87 184.61 763.58 968.05 (0.00) (184.61) (763.58) (948.18) Czech Republic 0.05% 0.27 2.36 0.00 2.63 0.27 2.36 9.76 12.40 0.00 (0.00) (9.76) (9.76) Denmark 1.74% 9.52 82.33 0.00 91.85 9.52 82.33 340.52 432.37 0.00 0.00 (340.52) (340.52) Finland 0.61% 3.62 31.26 0.00 34.88 3.62 31.26 117.17 152.05 0.00 0.00 (117.17) (117.17) France 6.16% 30.94 291.31 0.00 322.25 30.95 291.31 1,204.93 1,527.19 (0.00) (0.00) (1,204.93) (1,204.93) Germany 9.87% 46.50 467.30 0.00 513.80 46.51 467.33 1,932.96 2,446.80 (0.01) (0.03) (1,932.96) (1,933.00) Greece 0.13% 0.70 6.03 0.00 6.73 0.70 6.03 24.94 31.66 (0.00) 0.00 (24.94) (24.93) Hungary 0.06% 0.00 0.00 0.00 - 0.32 2.80 11.60 14.73 (0.32) (2.80) (11.60) (14.73) Iceland 0.04% 0.24 1.89 0.00 2.13 0.24 1.89 7.81 9.94 0.00 (0.00) (7.81) (7.81) Ireland 0.20% 1.08 9.38 38.79 49.26 1.08 9.38 38.79 49.26 (0.00) 0.00 (0.00) (0.00) Italy 3.95% 19.76 0.00 0.00 19.76 19.76 186.97 773.34 980.07 0.00 (186.97) (773.34) (960.31) Japan 13.17% 71.64 0.00 0.00 71.64 71.64 621.81 2,571.94 3,265.40 0.00 (621.81) (2,571.94) (3,193.75) Korea, Republic of 0.91% 0.00 0.00 0.00 - 5.49 42.97 177.71 226.16 (5.49) (42.97) (177.71) (226.16) Kuwait 0.14% 0.00 0.00 0.00 - 0.84 6.61 27.34 34.79 (0.84) (6.61) (27.34) (34.79) Luxembourg 0.10% 0.55 0.00 0.00 0.55 0.55 4.72 19.53 24.80 (0.00) (4.72) (19.53) (24.25) Netherlands 2.87% 15.67 135.47 0.00 151.14 15.67 135.47 560.34 711.49 0.00 (0.00) (560.34) (560.34) New Zealand 0.13% 0.72 6.25 0.00 6.97 0.72 6.25 25.86 32.84 0.00 (0.00) (25.86) (25.86) Norway 1.68% 3.94 0.00 0.00 3.94 9.16 79.20 327.59 415.95 (5.22) (79.20) (327.59) (412.01) Poland 0.03% 0.18 1.42 0.00 1.60 0.18 1.42 5.86 7.46 0.00 0.00 (5.86) (5.86) Portugal 0.22% 1.21 10.42 43.10 54.73 1.21 10.42 43.10 54.73 0.00 0.00 (0.00) 0.00 Russian Federation 0.09% 0.48 4.17 17.24 21.89 0.48 4.17 17.24 21.89 (0.00) 0.00 (0.00) (0.00) Saudi Arabia 0.39% 0.00 0.00 0.00 - 2.15 18.62 77.03 97.81 (2.15) (18.62) (77.03) (97.81) Singapore 0.14% 0.00 0.00 0.00 - 0.78 6.71 27.73 35.21 (0.78) (6.71) (27.73) (35.21) Slovak Republic 0.01% 0.07 0.00 0.00 0.07 0.07 0.62 2.58 3.27 0.00 (0.62) (2.58) (3.20) Slovenia 0.03% 0.17 0.00 0.00 0.17 0.16 1.42 5.86 7.44 0.00 (1.42) (5.86) (7.27) South Africa 0.09% 0.48 4.17 17.24 21.89 0.48 4.17 17.24 21.89 (0.00) (0.00) 0.00 0.00 Spain 1.99% 10.85 93.79 0.00 104.64 10.85 93.79 387.93 492.57 0.00 0.00 (387.93) (387.93) Sweden 2.89% 15.79 136.52 0.00 152.31 15.79 136.52 564.65 716.96 0.00 0.00 (564.65) (564.65) Switzerland 2.44% 0.00 0.00 0.00 - 14.65 114.73 474.55 603.93 (14.65) (114.73) (474.55) (603.93) United Kingdom 13.83% 77.07 652.50 0.00 729.57 77.06 652.50 2,698.88 3,428.44 0.00 (0.00) (2,698.88) (2,698.87) United States 20.31% 58.91 0.00 0.00 58.91 156.89 949.84 3,928.71 5,035.44 (97.98) (949.84) (3,928.71) (4,976.53) Sub-total 22,810.03 Structural gap 8.01% 1,986.39 TOTAL 100.00% 411.76 2049.32 116.37 2,577.45 539.19 4,344.16 17,926.68 24,796.42 (127.43) (2,294.84) (17,810.31) (20,232.58) Exchange rates used: MDRI Replenishment Foreign Exchange Rate, USD/SDR: 1.47738 - 26 - Table 10b International Development Association Donor Financing of IDA's Forgone Reflows due to the MDRI: Firm Financing Commitments Received (Unqualified IoCs), by Period as of December 31, 2006 (USD equivalent millions) Firm Financing Received (Unqualified IoCs) Contributions, Based on Original MDRI Cost Estimates Surplus/(Shortfall) vs. Original MDRI Cost Estimates Remaining Remainder of Subsequent 3 Remaining Remainder of Subsequent 3 Remaining Remainder of Subsequent 3 Total Total Total IDA14 period first decade decades IDA14 period first decade decades IDA14 period first decade decades Donors Shares FY07-08 FY09-16 FY17-44 FY07-44 FY07-08 FY09-16 FY17-44 FY07-44 FY07-08 FY09-16 FY17-44 FY07-44 A B C D E F G H A-E B-F C-G D-H USDm USDm USDm USDm USDm USDm USDm USDm USDm USDm USDm USDm Australia 1.49% 12.98 112.18 0.00 125.16 12.98 112.18 420.43 545.58 0.00 0.00 (420.43) (420.43) Austria 0.78% 6.29 54.40 0.00 60.69 6.29 54.41 225.04 285.74 (0.00) (0.01) (225.04) (225.05) Belgium 1.55% 12.51 0.00 0.00 12.51 12.51 108.12 447.20 567.82 0.00 (108.12) (447.20) (555.31) Canada 3.90% 29.36 0.00 0.00 29.36 29.36 272.74 1,128.09 1,430.18 (0.00) (272.74) (1,128.09) (1,400.83) Czech Republic 0.05% 0.40 3.49 0.00 3.89 0.40 3.49 14.43 18.32 0.00 (0.00) (14.43) (14.43) Denmark 1.74% 14.07 121.63 0.00 135.70 14.07 121.63 503.07 638.77 0.00 0.00 (503.07) (503.07) Finland 0.61% 5.35 46.19 0.00 51.54 5.34 46.19 173.11 224.64 0.01 0.00 (173.11) (173.10) France 6.16% 45.72 430.38 0.00 476.09 45.72 430.38 1,780.13 2,256.24 (0.01) (0.00) (1,780.13) (1,780.14) Germany 9.87% 68.70 690.38 0.00 759.08 68.71 690.42 2,855.71 3,614.85 (0.02) (0.04) (2,855.71) (2,855.77) Greece 0.13% 1.03 8.91 0.00 9.94 1.03 8.91 36.84 46.78 (0.00) 0.00 (36.84) (36.84) Hungary 0.06% 0.00 0.00 0.00 - 0.48 4.14 17.14 21.76 (0.48) (4.14) (17.14) (21.76) Iceland 0.04% 0.36 2.79 0.00 3.15 0.36 2.79 11.54 14.69 0.00 (0.00) (11.54) (11.54) Ireland 0.20% 1.60 13.86 57.31 72.77 1.60 13.86 57.31 72.77 (0.00) 0.01 (0.00) (0.00) Italy 3.95% 29.20 0.00 0.00 29.20 29.20 276.22 1,142.52 1,447.94 0.00 (276.22) (1,142.52) (1,418.74) Japan 13.17% 105.84 0.00 0.00 105.84 105.84 918.65 3,799.73 4,824.23 0.00 (918.65) (3,799.73) (4,718.39) Korea, Republic of 0.91% 0.00 0.00 0.00 - 8.10 63.48 262.55 334.13 (8.10) (63.48) (262.55) (334.13) Kuwait 0.14% 0.00 0.00 0.00 - 1.25 9.77 40.39 51.40 (1.25) (9.77) (40.39) (51.40) Luxembourg 0.10% 0.81 0.00 0.00 0.81 0.81 6.98 28.85 36.63 (0.00) (6.98) (28.85) (35.83) Netherlands 2.87% 23.16 200.14 0.00 223.30 23.15 200.15 827.84 1,051.14 0.00 (0.00) (827.84) (827.84) New Zealand 0.13% 1.07 9.23 0.00 10.30 1.07 9.24 38.21 48.51 0.00 (0.00) (38.21) (38.21) Norway 1.68% 5.82 0.00 0.00 5.82 13.54 117.01 483.97 614.51 (7.72) (117.01) (483.97) (608.69) Poland 0.03% 0.27 2.09 0.00 2.36 0.27 2.09 8.66 11.02 0.00 0.00 (8.66) (8.66) Portugal 0.22% 1.79 15.40 63.67 80.86 1.78 15.40 63.68 80.86 0.01 0.00 (0.01) 0.00 Russian Federation 0.09% 0.71 6.16 25.47 32.34 0.71 6.16 25.47 32.34 (0.00) 0.00 (0.00) (0.00) Saudi Arabia 0.39% 0.00 0.00 0.00 - 3.18 27.52 113.81 144.51 (3.18) (27.52) (113.81) (144.51) Singapore 0.14% 0.00 0.00 0.00 - 1.15 9.91 40.97 52.03 (1.15) (9.91) (40.97) (52.03) Slovak Republic 0.01% 0.11 0.00 0.00 0.11 0.11 0.92 3.81 4.84 0.00 (0.92) (3.81) (4.73) Slovenia 0.03% 0.25 0.00 0.00 0.25 0.24 2.09 8.66 10.99 0.01 (2.09) (8.66) (10.74) South Africa 0.09% 0.71 6.16 25.47 32.34 0.71 6.16 25.47 32.34 (0.00) (0.00) 0.00 0.00 Spain 1.99% 16.03 138.56 0.00 154.59 16.03 138.56 573.12 727.71 0.00 0.00 (573.12) (573.12) Sweden 2.89% 23.33 201.68 0.00 225.02 23.33 201.68 834.21 1,059.22 0.00 0.00 (834.21) (834.21) Switzerland 2.44% 0.00 0.00 0.00 - 21.64 169.50 701.09 892.23 (21.64) (169.50) (701.09) (892.23) United Kingdom 13.83% 113.86 963.99 0.00 1,077.85 113.85 963.99 3,987.27 5,065.11 0.01 (0.00) (3,987.27) (3,987.26) United States 20.31% 87.03 0.00 0.00 87.03 231.78 1,403.27 5,804.20 7,439.25 (144.75) (1,403.27) (5,804.20) (7,352.22) Sub-total 33,699.08 Structural gap 8.01% 2,934.65 TOTAL 100.00% 608.33 3027.62 171.92 3,807.88 796.60 6,417.97 26,484.51 36,633.73 (188.26) (3,390.35) (26,312.59) (29,891.21) Exchange rates used: MDRI Replenishment Foreign Exchange Rate, USD/SDR: 1.47738 - 27 - Table 10c International Development Association Donor Financing of IDA's Forgone Reflows due to the MDRI: Firm Financing Commitments Received (Unqualified IoCs), by Period as of December 31, 2006 (National Currency millions) Firm Financing Received (Unqualified IoCs) Contributions, Based on Original MDRI Cost Estimates Surplus/(Shortfall) vs. Original MDRI Cost Estimates Remaining Remainder of Subsequent 3 Remaining Remainder of Subsequent 3 Remaining Remainder of Subsequent 3 Total Total Total IDA14 period first decade decades IDA14 period first decade decades IDA14 period first decade decades Donors Shares Currency FY07-08 FY09-16 FY17-44 FY07-44 FY07-08 FY09-16 FY17-44 FY07-44 FY07-08 FY09-16 FY17-44 FY07-44 A B C D E F G H A-E B-F C-G D-H millions millions millions millions millions millions millions millions millions millions millions millions Australia 1.49% AUD 16.98 146.78 0.00 163.76 16.98 146.78 550.11 713.86 0.00 0.00 (550.11) (550.10) Austria 0.78% SDR 4.26 36.82 0.00 41.08 4.26 36.83 152.32 193.41 (0.00) (0.01) (152.32) (152.33) Belgium 1.55% EUR 10.08 0.00 0.00 10.08 10.08 87.12 360.37 457.57 0.00 (87.12) (360.37) (447.49) Canada 3.90% CAD 35.94 0.00 0.00 35.94 35.94 333.92 1,381.14 1,751.00 (0.00) (333.92) (1,381.14) (1,715.06) Czech Republic 0.05% CZK 9.73 84.10 0.00 93.83 9.73 84.10 347.86 441.69 0.00 (0.00) (347.86) (347.86) Denmark 1.74% DKK 84.50 730.42 0.00 814.92 84.50 730.42 3,021.15 3,836.06 0.00 0.00 (3,021.15) (3,021.14) Finland 0.61% EUR 4.31 37.22 0.00 41.53 4.31 37.22 139.50 181.02 0.00 0.00 (139.50) (139.49) France 6.16% EUR 36.84 346.81 0.00 383.65 36.84 346.81 1,434.49 1,818.15 (0.00) (0.00) (1,434.49) (1,434.50) Germany 9.87% SDR 46.50 467.30 0.00 513.80 46.51 467.33 1,932.96 2,446.80 (0.01) (0.03) (1,932.96) (1,933.00) Greece 0.13% EUR 0.83 7.18 0.00 8.01 0.83 7.18 29.69 37.69 (0.00) 0.00 (29.69) (29.68) Hungary 0.06% HUF 0.00 0.00 0.00 - 95.65 826.85 3,420.01 4,342.51 (95.65) (826.85) (3,420.01) (4,342.51) Iceland 0.04% ISK 22.75 178.17 0.00 200.92 22.75 178.17 736.96 937.88 0.00 (0.00) (736.96) (736.96) Ireland 0.20% EUR 1.29 11.17 46.18 58.64 1.29 11.17 46.18 58.64 (0.00) 0.00 (0.00) (0.00) Italy 3.95% EUR 23.53 0.00 0.00 23.53 23.53 222.59 920.68 1,166.79 0.00 (222.59) (920.68) (1,143.26) Japan 13.17% JPY 11564.24 0.00 0.00 11,564.24 11,564.24 100,371.39 415,155.78 527,091.41 0.00 (100,371.39) (415,155.78) (515,527.17) Korea, Republic of 0.91% KRW 0.00 0.00 0.00 - 8,252.74 64,642.35 267,373.43 340,268.52 (8,252.74) (64,642.35) (267,373.43) (340,268.52) Kuwait 0.14% KWD 0.00 0.00 0.00 - 0.36 2.85 11.80 15.01 (0.36) (2.85) (11.80) (15.01) Luxembourg 0.10% EUR 0.65 0.00 0.00 0.65 0.65 5.62 23.25 29.52 (0.00) (5.62) (23.25) (28.87) Netherlands 2.87% EUR 18.66 161.28 0.00 179.94 18.66 161.28 667.10 847.04 0.00 (0.00) (667.10) (667.10) New Zealand 0.13% NZD 1.52 13.12 0.00 14.64 1.52 13.12 54.28 68.93 0.00 (0.00) (54.28) (54.29) Norway 1.68% NOK 37.36 0.00 0.00 37.36 86.93 751.48 3,108.25 3,946.66 (49.57) (751.48) (3,108.25) (3,909.30) Poland 0.03% PLN 0.88 6.88 0.00 7.76 0.88 6.88 28.45 36.21 0.00 0.00 (28.45) (28.45) Portugal 0.22% EUR 1.44 12.41 51.31 65.16 1.44 12.41 51.32 65.16 0.00 0.00 (0.01) 0.00 Russian Federation 0.09% SDR 0.48 4.17 17.24 21.89 0.48 4.17 17.24 21.89 (0.00) 0.00 (0.00) (0.00) Saudi Arabia 0.39% USD 0.00 0.00 0.00 - 3.18 27.52 113.81 144.51 (3.18) (27.52) (113.81) (144.51) Singapore 0.14% SGD 0.00 0.00 0.00 - 1.91 16.50 68.27 86.68 (1.91) (16.50) (68.27) (86.68) Slovak Republic 0.01% SKK 3.33 0.00 0.00 3.33 3.33 28.78 119.03 151.14 0.00 (28.78) (119.03) (147.81) Slovenia 0.03% EUR 0.20 0.00 0.00 0.20 0.20 1.69 6.97 8.86 0.00 (1.69) (6.97) (8.66) South Africa 0.09% ZAR 4.60 39.79 164.59 208.98 4.60 39.79 164.58 208.98 (0.00) (0.00) 0.01 0.00 Spain 1.99% EUR 12.92 111.66 0.00 124.57 12.92 111.66 461.84 586.41 0.00 0.00 (461.84) (461.84) Sweden 2.89% SEK 174.52 1508.58 0.00 1,683.10 174.52 1,508.58 6,239.78 7,922.88 0.00 0.00 (6,239.78) (6,239.78) Switzerland 2.44% CHF 0.00 0.00 0.00 - 27.00 211.49 874.76 1,113.24 (27.00) (211.49) (874.76) (1,113.24) United Kingdom 13.83% GBP 62.49 529.08 0.00 591.57 62.49 529.08 2,188.39 2,779.95 0.00 (0.00) (2,188.39) (2,188.38) United States 20.31% USD 87.03 0.00 0.00 87.03 231.78 1,403.27 5,804.20 7,439.25 (144.75) (1,403.27) (5,804.20) (7,352.22) Sub-total Structural gap 8.01% TOTAL 100.00% - 28 - Table 11a International Development Association Irrevocable MDRI Debt Relief Provided by IDA vs. Firm Donor Financing Received as of December 31, 2006 (SDR equivalent millions) Irrevocable MDRI Debt Relief Future MDRI Debt Relief Total MDRI Debt Relief Already Provided by IDA to be Provided by IDA Updated MDRI Cost Estimates by IDA Principal Charges Total Principal Charges Total SDRm SDRm SDRm SDRm SDRm SDRm SDRm Completion-point Countries (21) 16,584 2,550 19,134 19,134 Decision-point Countries (9) 2,256 353 2,609 2,609 Pre-decision Point Countries (10) 2,664 222 2,887 2,887 Total MDRI Costs 16,584 2,550 19,134 4,920 575 5,495 24,629 Donor Financing Donors Financing Status Total Donor Financing as per MDRI Resolution for the MDRI Firm Financing Received Firm Financing To Be Provided SDRm SDRm SDRm Unqualified IoCs 2,577 2,577 Qualified IoCs 13,859 13,859 Total IoCs Received 16,437 Costs To Be Financed 8,360 8,360 Total MDRI Financing 2,577 22,219 24,796 Updated MDRI Costs Estimates vs. Donor Funding per MDRI Resolution -167 Exchange rates used: MDRI Replenishment Foreign Exchange Rate, USD/SDR: 1.47738 - 29 - Table 11b International Development Association Irrevocable MDRI Debt Relief Provided by IDA vs. Firm Donor Financing Received as of December 31, 2006 (USD equivalent millions) Irrevocable MDRI Debt Relief Future MDRI Debt Relief Total MDRI Debt Relief Already Provided by IDA to be Provided by IDA Updated MDRI Cost Estimates by IDA Principal Charges Total Principal Charges Total USDm USDm USDm USDm USDm USDm USDm Completion-point Countries (20) 24,501 3,767 28,268 28,268 Decision-point Countries (11) 3,333 521 3,854 3,854 Pre-decision Point Countries (9) 3,936 329 4,264 4,264 Total MDRI Costs 24,501 3,767 28,268 7,269 850 8,118 36,387 Donor Financing Donors Financing Status Total Donor Financing as per MDRI Resolution for the MDRI Firm Financing Received Firm Financing To Be Provided USDm USDm USDm Unqualified IoCs 3,808 3,808 Qualified IoCs 20,475 20,475 Total IoCs Received 24,283 Costs To Be Financed 12,351 12,351 Total MDRI Financing 3,808 32,826 36,634 Updated MDRI Costs Estimates vs. Donor Funding per MDRI Resolution -247 Exchange rates used: MDRI Replenishment Foreign Exchange Rate, USD/SDR: 1.47738