• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

IMF announces $41 billion trust for green projects in developing countries

2 years ago
in Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
67
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

IMF announces $41 billion trust for green projects in developing countries

The International Monetary Fund (IMF) recently announced the creation of the Resilience and Sustainability Trust (RST), a $41 billion tool designed to finance green projects in developing countries.

This announcement was made by IMF Managing Director, Kristalina Georgieva, during the New Global Financial Pact Summit in Paris, which concluded on Friday, June 23. The RST surpassed its initial funding goal of $35 billion and now aims to reach $60 billion.

What she said

During her presentation, Georgieva said:

  • “We have created a new instrument: the Resilience and Sustainability Trust. It lends for the first time in the history of the IMF long-term affordable financing with a 20-year repayment period and a 10-and-a-half-year grace period.
  • “How did we fund it? We funded it with the goodwill of countries like France – and we look forward to the U.S. contributing – that have taken part in their new SDR allocation and, per the promise made, they have made this available to the IMF to enable us to provide this long-term, affordable lending.
  • “We have reached the commitment pledged in 2021 –the pledge of $100 billion in SDR channelling. Around $60 billion of this pledge is already working at the IMF in the Poverty Reduction and Growth Trust and the Resilience and Sustainability Trust.
  • “We have seven countries that have benefited, and we have 40 countries expressing interest. And because of that, I want to announce today we are lifting our ambition to increase by 50% the size of the Resilience and Sustainability Trust, so we can respond to needs.”

Rich countries at an earlier meeting committed to secure $100 billion in so-called Special Drawing Rights, or SDRs, a term for funds available to all IMF members in amounts that are tied to the size of their economies.

Many rich countries have reallocated a portion of their own Special Drawing Rights (SDRs) to benefit countries with greater needs for emergency funding.

Developing countries can access the funds through the IMF in emergencies. It is also important to note that accessing the RST does not add to the debt burdens of developing countries. Funds under the RST are used to tackle climate-driven disasters in developing countries.

RelatedPosts

 Importers and Exporters Association Decries “Mafiarian” Auctions of Perishable Goods at Ghana’s Ports

Nigeria Leads as Africa’s Wealthiest Economies Lose Over 8,000 Millionaires in 10 Years

Financial Stocks Gain as Accra Bourse Slips on Prime Index Decline

Georgieva emphasized that RST would play a crucial role in accelerating the green transition in developing countries and enabling them to confront energy transition challenges more effectively.

She also stated that over the years, the IMF has integrated climate considerations into everything they do, because climate is macro-critical.

Tags: green projects in developing countriesIMFIMF announces $41 billion trust for green projects in developing countries
No Result
View All Result

Highlights

Ghana in Talks With Nigeria Over Possible Barter Deal to Swap Gas for Electricity

Ghana set to Save $300m in Debt Restructuring Deal With IPPs – ACEP’s Ben Boakye Discloses

Morocco and Madagascar set up Historic CHAN Final in Nairobi

US Open: Defending Champions Swiatek and Sinner Cruise Into Second Round

Otto Addo Names Strong 24-Man Squad As Black Stars Prepare For Crucial World Cup Qualifiers Against Chad and Mali

FEC 2025: NRGI Warns Fossil Fuel Investments Risk Undermining Africa’s Energy Transition; Lists Innovative Financing Instruments to Plug Transition Funding Shortfall

Trending

Business

 Importers and Exporters Association Decries “Mafiarian” Auctions of Perishable Goods at Ghana’s Ports

August 27, 2025

 Importers and Exporters Association Decries “Mafiarian” Auctions of Perishable Goods at Ghana’s Ports The Importers and Exporters...

Nigeria Leads as Africa’s Wealthiest Economies Lose Over 8,000 Millionaires in 10 Years

August 27, 2025

Financial Stocks Gain as Accra Bourse Slips on Prime Index Decline

August 27, 2025

Ghana in Talks With Nigeria Over Possible Barter Deal to Swap Gas for Electricity

August 27, 2025

Ghana set to Save $300m in Debt Restructuring Deal With IPPs – ACEP’s Ben Boakye Discloses

August 27, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.