Bulgaria Remits 84% of Afghanistan's Debt
An Afghan man with children at a temporary shelter in an internally displaced person`s (IDP) camp on the outskirts of Kabul, Afghanistan, 20 October 2014. Photo by EPA/BGNES.
Bulgaria has remitted almost 84% of Afghanistan's debt accumulated in the 70s and 80s of the 20th century and rescheduled the remaining debt for 10 years.
The Government today approved the intergovernmental agreement between the two countries signed on September 17 to settle the debt totaling USD 50.6 million, Dnevnik.bg informs.
The reason Bulgaria remits part of the debt is that in 2010 Afghanistan was given the status of a heavily indebted poor country (HIPC).
The funds will be transformed into official development assistance, which will be used for agriculture, infrastructure, health and education in Afghanistan.
The remaining USD 8.2 million will be paid off on 20 semiannual installments over 10 years.
- Log in to post comments
