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Lifted from /. : story here. Excellent news.
Jan. 14th, 2005
Today Tanzania, tomorrow . . . ?
Jan. 14th, 2005 12:49 pmStory here.
Mr Brown said he intended to service the interest payments and capital repayments of 10% of all the debt owed to the World Bank by the 70 poorest nations, reflecting Britain's 10% shareholding in the bank.
The move will cost Britain anything between $1.2bn and $2bn (£635m and £1.06bn) between now and 2015. In the case of Tanzania his initiative will relieve the Tanzanians from paying $75m of the $750m debt payments due to fall to the World Bank over the next 10 years.
Addendum: And the good news keeps rolling on in.
Mr Brown said he intended to service the interest payments and capital repayments of 10% of all the debt owed to the World Bank by the 70 poorest nations, reflecting Britain's 10% shareholding in the bank.
The move will cost Britain anything between $1.2bn and $2bn (£635m and £1.06bn) between now and 2015. In the case of Tanzania his initiative will relieve the Tanzanians from paying $75m of the $750m debt payments due to fall to the World Bank over the next 10 years.
Addendum: And the good news keeps rolling on in.