According to reports monitored by the French News Agency (AFP), the Norwegian government has decided last Friday, September 14, 2007 to cancel part of the Gambia’s debt amounted to 2.5M Norwegian crowns (nearly 319.500 euros).

Quoting a press release from the Norwegian Ministry for External Affairs, the report indicates that this measure is in line with the initiative that was instituted by the Paris Club in June 2007, which is geared towards the debt cancellation for the Highly indebted Poor Countries (HIPC).

The AFP report further added that the remaining balance of 7M Norwegian crowns (894.250 euros) will be cancelled if the Gambia successfully attains the goals of the HIPC initiative.