HISTORIC PRESS RELEASE : UK writes off multilateral debt and consults on Commission for Africa proposals in Mali [February 2005]
The press release issued by HM Treasury on 14 February 2005.
Chief Secretary to the Treasury, Paul Boateng, today presented a full signature Memorandum of Understanding in Mali with Minister for Investment Promotion Ousame Thiam in Bamako. This will provide $45.4 million of debt relief between 2005 and 2015. The meeting took place during the Chief Secretary’s visit to West Africa as part of his Commission for Africa consultations with African nations.
Paul Boateng said:
“Africa is a key priority for the UK presidencies of the G7 and G8. Earlier this month in London G7 finance Ministers indicated that they would be willing to provide as much as 100 per cent multilateral debt relief for the poorest countries. The UK is leading the way by paying our share of the debt owed by Mali to the World Bank and African Development Bank, 10 per cent of the total multilateral debt. We are urging other countries to do the same.
To date, in Mali, resources from bilateral debt relief have led to more spending on education, with almost 2,500 classrooms constructed, and almost 2,000 teachers recruited and trained. This new commitment will allow more resources to be spent on poverty reduction.”
Mr Boateng also visited a programme for widows and orphans at Djicoroni. The programme assists 149 widows, giving them a chance to improve their lot in life, and provides education for the children.
Focusing international commitment on Africa is a key priority for the UK presidencies of the G7/G8 and also for the Commission for Africa. The Commission will make recommendations on the further action needed to ensure that Africa shares in the benefits of globalisation, and meets the Millennium Development Goals.
Speaking at a lunch hosted by Minister Thiam, Mr Boateng highlighted the priorities of the Commission and listened to views on Mali’s priorities for the Africa report and the way forward once the report is presented.
Paul Boateng said:
“Mali is a great country with much potential. I welcome the positive development progress I have seen on this visit. We need to ensure that through working together – through the Commission for Africa and NAPAD – we continue to tackle all the challenges facing Africa and ensure that Mali can make progress towards the Millennium Development Goals.”
