Country data and document
DEBT RELIEF INITIATIVES AND IMMUNIZATION FINANCING
Uganda was the first country to qualify for debt relief under the original Heavily Indebted Poor Countries (HIPC) initiative in 1997. In 2000, the country qualified for additional relief under the enhanced HIPC initiative. The sum of forgone debt service under the original and the enhanced HIPC initiative will amount to approximately US$1.95 billion over time.
In addition, debt stock cancellations granted by the International Development Association, the International Monetary Fund and the African Development Fund under the Multilateral Debt Relief Initiative (MDRI) in 2006 are supposed to result in additional savings of US$ 3.52 billion.
The Ugandan Government decided to ring fence the savings from debt relief for the implementation of pro-poor programmes identified in the Poverty Eradication Action Plan (PEAP). Therefore and in a broader effort to reorient the budget towards PEAP priorities and to attract donor assistance in form of budget support, the government established the Poverty Action Fund (PAF) in 1998.