council decis juli except assist heavili indebt acp countri ec council european union regard intern agreement financ administr commun aid framework fourth acp ec convent sign juli hereinaft refer intern agreement articl thereof regard propos commiss council februari adopt conclus report corep decemb european commun contribut debt initi heavili indebt poor countri debt initi heavili indebt poor countri hereinaft refer hipc initi present intern monetari fund world bank april meet subsequ endors autumn interim develop committe annual meet intern monetari fund world bank commun member state firmli commit particip hipc initi provid except assist countri implement econom reform programm qualiti initi countri commun exposur elig hipc debt relief acp state implement decis accord financi regul eec juli applic cooper financ develop fourth acp ec convent decid articl european commun fulli particip hipc initi assist countri qualifi initi view help reduc net present extern financi oblig commun purpos commun make grant resourc utilis elig countri meet outstand debt debt servic oblig commun assist resourc provid creditor elig countri achiev countri specif debt sustain target agre framework hipc initi articl assist refer articl primarili beneficiari countri pre pai outstand special loan net present basi action suffici attain agre level net present debt reduct beneficiari countri alloc grant meet outstand risk capit oblig commun articl commiss case case basi specif decis provid assist elig acp countri accord rule procedur laid chapter iv intern agreement commiss decis amount assist provid case reduct net present countri outstand debt commun consist hipc initi methodolog countri specif decis account structur countri exposur commun desir choos simplest administr propos ensur equit fair treatment elig countri full respect decis reach creditor countri decis make explicit arrang term condit implement decis articl assist refer articl financ interest accru fund deposit pai agent europ refer articl fourth acp ec convent extent revenu due account reserv revenu purpos provid articl intern agreement initi amount ecu million reserv interest purpos financ assist intend primarili countri fulfil elig criteria resourc insuffici amount matter prioriti supplement alloc interest approv edf committe accord articl intern agreement extent revenu suffici cover decis refer articl await resourc made futur agreement acp state member state examin resourc provid payment made account held member state european invest bank respect special loan risk capit oper alloc payment purpos financ except assist basi commiss propos subject unanim decis council accord articl intern agreement articl commiss present due time report european parliament council review remain financ aris commun particip initi basi report council decis commun particip hipc initi commiss report period european parliament council implement decis monetari committe inform implement decis articl decis enter forc dai adopt brussel juli council presid edling oj oj