THE World Bank has endorsed Tanzania’s admission to the Heavily Indebted Poor Countries (HIPC) programme, under which it will be eligible for extensive debt relief, an official said on Thursday. World Bank country representative to Tanzania James Adams said that the World Bank board has in principle approved the admission of Tanzania to HIPC. Under the HIPC initiative Tanzania, which is among the world’s poorest nation, could get debt relief of up to 80%. Tanzania’s external debt currently stands at around $8-billion, according to official estimates.
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