Record Debt Relief to Reduce Poverty in Nigeria
Country/Region
| Albania |
| Australia |
| Bahrain |
| Channel Islands |
| China |
| Croatia |
| Cyprus |
| Dominican Republic |
| Egypt |
| France |
| Ghana |
| Greece |
| Hong Kong (China) |
| India |
| Kazakhstan |
| Kenya |
| Kuwait |
| Liberia |
| Libya |
| Malaysia |
| Morocco |
| Nigeria |
| North Korea |
| Poland |
| Qatar |
| Russia |
| Saudi Arabia |
| Seychelles |
| Singapore |
| Tanzania |
| Thailand |
| Ukraine |
| United Kingdom |
| Yemen |
Project Summary
The creation of a strong institution that could reach agreement with Nigeria's creditors to make its debt sustainable.
Project Description
CROWN AGENTS
The international community responded to Nigeria's return to democracy in 1999 by encouraging economic reform. The UK Department for International Development appointed Crown Agents to manage a project to create a strong institution that could reach agreement with Nigeria's creditors to make its debt sustainable.
Through this long-term project the Nigeria Debt Management Office was established and the process of preparing Nigeria for negotiation with creditors was begun. The deal which cancelled $18bn of its external debt was completed in April 2006. This will release sufficient money to provide school places for 3 million more children.
For this project Crown Agents was the winner of the Large Consultancy (B) category in the British Expertise International Awards 2006.