Burundi: New debt relief from African Development Bank

The African Development Bank (ADB) Group said Burundi had met the conditions needed to qualify for US $226.01 million ($149.35 million in Net Present Value terms) in debt relief. "This amount will save up to 90 percent of Burundi's debt service obligations annually until February 2043," the bank said in a statement following a decision by its board of directors and those of the African Development Fund, one of the bank's entities. The ADB share of debt relief is equivalent to 18 percent of the relief being offered by all of Burundi's creditors, according to AlertNet.