[Shabelle] Under a bilateral agreement between Norway and Somalia, NOK 16.2 million of Somalia's debt to Norway will be cancelled. Some 67 % of Somalia's debt to Norway, NOK 10.85 million, will be cancelled upon the signing of the bilateral agreement, in line with the Paris Club agreement with Somalia. The remaining NOK 5.35 million will be cancelled if and when Somalia reaches its Completion Point under the Heavily Indebted Poor Countries (HIPC) Initiative. It is expected to do so in 2023.
