Climate Change in Africa: Rwanda Leading Green Innovation
The IMF helps countries tackle the challenges of climate change. Through its Resilience and Sustainability Trust (RST), the IMF plays an increasingly important role in helping countries with limited room in their budget address long-term challenges, including climate change. Rwanda is the first African country to reach an agreement with the IMF on support from the RST, which Managing Director Kristalina Georgieva notes will help the country’s climate strategy deliver on ambitious objectives and catalyze more financing.
The IMF’s Resilience and Sustainability Trust (RST) helps low-income and vulnerable middle-income countries build resilience to external shocks and ensure sustainable growth, contributing to their longer-term balance of payments stability. It complements the IMF’s existing lending toolkit by providing longer-term, affordable financing to address longer-term challenges, including climate change and pandemic preparedness.
(as of September 15, 2023)1/
| In SDR billions | In USD billions | |
| Total pledges | 31.2 | 41.1 |
| of which: contribution package with loan resources 2/ | 26.1 | 34.4 |
| Contributions received 3/ | 29.8 | 39.3 |
| of which: contribution package with loan resources | 24.7 | 32.6 |
| Australia | 0.9 | 1.2 |
| Canada | 1.4 | 1.8 |
| China | 6.0 | 7.9 |
| France | 3.1 | 4.0 |
| Italy | 1.9 | 2.5 |
| Japan | 5.0 | 6.6 |
| Korea | 0.9 | 1.2 |
| Lithuania | 0.1 | 0.1 |
| Luxembourg | 0.3 | 0.3 |
| Netherlands | 1.2 | 1.6 |
| Oman | 0.04 | 0.1 |
| Spain | 1.4 | 1.9 |
| United Kingdom | 2.5 | 3.3 |
| of which: standalone contribution 2/ | 5.1 | 6.7 |
| Estonia | 0.03 | 0.03 |
| Germany | 5.1 | 6.7 |
1/ Where relevant, FX rates as of September 15, 2023.
2/ The fundraising target of SDR 33 billion was set for contribution packages that provide resources to all three RST accounts (loan, deposit, and reserve accounts). A 'standalone contribution' refers to contributions to the deposit and/or reserve accounts, normally with a maturity of 10 years.
3/ Contribution packages with effective agreements are reported as received once their deposit and reserve contributions have been both disbursed to the RST. Standalone contributions with effective agreements are reported as 'received' once they are disbursed.
