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£100m to write off third world debts

The government has pledged to provide £100 million to fund a new debt relief initiative for some of the world's poorest countries.

It was announced on Sunday that the UK will write off its share of World Bank and African Development Bank debt in order to assist key poverty-stricken states.

Countries set to benefit from the move include Ethiopia, Ghana, Nicaragua, Niger, Senegal, Tanzania, Uganda and Vietnam.

Published: Mon, 27 Sep 2004 08:32:21 GMT+01

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Times Business - page 23