Cote d’Ivoire, IMF secure $1.3bn loan for climate action

Sami Hegazi
1 Min Read

The Ivorian government and the International Monetary Fund (IMF) staff have agreed on a climate change reform program backed by a $1.3bn loan from the Resilience and Sustainability Facility (RSF).

In a statement, the IMF highlighted Cote d’Ivoire’s vulnerability to climate change, with rising temperatures, erratic rainfall, floods, rising sea levels, and coastal erosion posing significant risks to the country’s economic growth and its pursuit of sustainability and inclusivity.

The agreement outlines steps to bolster the country’s resilience and mitigate climate risks, focusing on key sectors like agriculture, transportation, infrastructure, and public financial management. However, the loan’s final approval hinges on the consent of the IMF’s Executive Board.

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