"By canceling debts owed to the World Bank, the IMF and the African Development Bank, poor countries could use the money for education or drugs to fight HIV/AIDS or malaria, supporters of debt forgiveness say. "
They could also use the money for palaces for their ruling elite, equipping their militaries for pogroms against their "undesirables", and stashing buckets of lucre in Swiss accounts.
But hey, maybe I'm too cynical.
That's what they used the original loan for, silly! This round will go for condos on the French Riviera, re-equipping the military, and stashing loot in the Caymans.