In this regard, I regret that financing for the initiative has not been definitively secured. Progress has been made within the multilateral institutions and in terms of bilateral contributions. The European Union has done its share, with a contribution of more than a billion euros, of which 680 million are earmarked for the African Development Bank through the HIPC Trust Fund. But all commitments made must be implemented because it is essential that sufficient financing be assured at the time when the IMF and the World Bank decide on the eligibility of each country to the initiative. We cannot commit for the future without being sure that the multilateral institutions' need for HIPC Initiative financing can be well and truly met.
Equity is also at issue.
It would be neither just nor defensible for certain creditors to exonerate themselves from their fair share of the financing effort. The determined commitment of the Paris Club member countries is well known. It seems to me absolutely crucial that the other bilateral creditors participate equitably as well. France has done so, in committing to the cancellation of the totality of its bilateral development debt at the completion point and the totality of its commercial debt eligible for Paris Club treatment. We will thus cancel nearly 8 billion euros of debt in the framework of the enhanced HIPC Initiative.