IMF Outlines $50 Billion Climate and Resilience Lending Plan
- Proposed trust would help low- and middle-income countries
- About 75% of IMF nations would be eligible for RST loans
An iceberg floats along the eastern cost of Greenland near Kulusuk.
Photographer: Jonathan Nackstrand/AFP/Getty Images
International Monetary Fund officials outlined plans for a proposed $50 billion lending trust focused on climate change and sustainability, providing the greatest detail so far on a key initiative that the institution aims to put in place this year.
About three quarters of IMF nations would be eligible for money from the Resilience and Sustainability Trust, or RST, according to a Thursday blog post by Ceyla Pazarbasioglu and Uma Ramakrishnan, the director and deputy director of the fund’s strategy, policy and review department. That includes all low-income and developing countries, as well as middle-income nations with gross national per-capita income of less than about $12,000 per year.