• the contribution of the HIPC Initiative to poverty reduction should not be seen in isolation or only in terms of resources freed up. For the HIPCs, the Initiative's implementation goes hand in hand with the PRSP process, and often resources from debt relief are crucial for PRSP implementation
• the combination of debt relief and the PRSP process is a powerful one if countries are serious about the formulation of their poverty reduction strategies and implementation
• aid is likely to have a significant impact on growth and poverty reduction if directed to countries that are in great need and have a policy environment conducive to putting resources to good use
• experience has shown that external support can only be effective if it reinforces sound policies implemented by HIPCs themselves and leads to higher resources being directed to social development and poverty reduction. Debt relief and ODA are most important not in isolation, but as help for self-help
• to fund poverty reduction efforts, HIPC relief is important, but much broader international support is needed as external transfers to HIPCs in the past far exceeded debt service paid. Experience has shown that external support can only be effective if it reinforces sound policies implemented by HIPCs themselves

[Adapted from the author]