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<p>The Multilateral Debt Relief Initiative (MDRI) provides full relief on eligible
debt owed by countries which have reached Completion Point of the Heavily Indebted
Poor Countries Initiative, to the International Monetary Fund (IMF), the International
Development Association (IDA) of the World Bank, and the African Development Fund
(AfDF) of the African Development Bank. The UK contributed £107 million to the MDRI
in 2017 and this is all official development assistance (ODA).</p><p> </p><p>When
necessary, the UK also provides relief on loans made bilaterally by the Export Credit
Guarantee Department (ECGD) to developing countries, through the coordinated process
of the Paris Club of creditors. In 2017 the UK provided £3 million of ODA as such
debt relief on ECGD loans.</p><p> </p><p>Therefore in 2017 the total UK debt relief,
through the MDRI and bilaterally, represented 0.78% of total UK ODA in 2017.</p>
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