IMF to Discuss Creating Climate-Change Lending Trust This Week

The International Monetary Fund will discuss plans for a trust to encourage nations to move their economies toward a more climate-friendly, low-carbon future at its annual meetings this week, the institution’s chief said.

Managing Director Kristalina Georgieva told reporters on Wednesday that the Resilience and Sustainability Trust would be funded by rich nations reallocating some of the reserves that they received through the IMF’s record $650 billion issuance in August. She expects the fund to meet its goal of getting countries to commit to $100 billion of onlending, she said.