Debt Relief Credit Under the Enhanced HIPC Initiative

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This program document describes a single-tranche Debt Relief Credit (DRC) to be provided to the Republic of Honduras, to facilitate the delivery of the Heavily Indebted Poor Countries (HIPC) assistance, required under the HIPC Debt Initiative, upon Honduras reaching the Completion Point under such Initiative. Specifically, the DRC will fund the pre-payment of the remaining outstanding debt owed by Honduras, at the time of the effectiveness of the Credit, and provide reimbursement to Honduras for payments made on such debt between the Completion Point, and the effectiveness of the Credit. This Credit complies with the recommendations for reaching the Completion Point under the Enhanced HIPC Initiative as agreed on July 2000.