Building resilience

IMF approves Rwanda as first African beneficiary of new climate fund

By Julian Pecquet

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Posted on December 13, 2022 09:54

On 12 December, the IMF approved Rwanda as the first African country to benefit from a new instrument to help poor countries tackle long-term structural challenges such as climate change.

Rwanda’s $319m loan under the Resilience and Sustainability Trust (RST) will help facilitate green public investment, mitigate financial risk and strengthen balance-of-payments stability, the IMF said in a press release announcing the board decision. The IMF previously approved Costa Rica and Barbados in October and November.

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