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Debt Relief for Development A Plan of Action

Towards the Year 2000 and Beyond: The Norwegian Debt Relief Strategy was launched in October 1998. It was a plan for how Norway could help reduce the debt burden of the poorest and most indebted countries up to the end of the millennium. The Debt Relief Strategy comprised two main parts. The first part dealt with the multilateral and bilateral mechanisms through which Norway can provide debt relief, including concrete proposals for ways in which Norway could reinforce and utilize these mechanisms over the next few years. The second part was country-specific, containing proposals for what Norway could do for 22 poor indebted countries. The overarching strategy was for Norway to actively support the growing political agreement on the need to find a lasting solution to the debt problems of the poorest countries through binding international cooperation.