- i24news
- International
- Economy
- IMF anticipates 'significant' climate, pandemics trust pledges
IMF anticipates 'significant' climate, pandemics trust pledges
Beaumont says that 'it could be a quite significant start to the overall fundraising effort'
An official with the International Monetary Fund anticipates “significant” contributions from members for its new trust - an initiative which helps lower and middle income nations confront challenges like climate change and pandemics.
The creation of the fund, known as the Resilience and Sustainability Trust, was greenlit by the IMF last week with a goal of raising $45 billion for countries in need.
https://twitter.com/i/web/status/1515433312143257608
This post can't be displayed because social networks cookies have been deactivated. You can activate them by clicking .
Deputy Director Craig Beaumont of the IMF’s Finance Department explained that officials at the institution are predicting members will issue sizable pledges, though it may take longer for the trust to meet its complete fundraising goal.
“We understand that some of the countries who've really been leading the discussions want to show their strong support by making a pledge during the spring meetings,” Beaumont said, according to Reuters.
“We don't have a precise number, but [by] my sense it could be a quite significant start to the overall fundraising effort.”
https://twitter.com/i/web/status/1514378099441479680
This post can't be displayed because social networks cookies have been deactivated. You can activate them by clicking .
The trust must receive “a substantial fraction” of its total financial goal in order to become operational ahead of the IMF and World Bank fall meetings in October, Beaumont said.
He added that the IMF will use this initial round of pledge funding as a foundation before reaching out to additional contributors to meet the trust’s target.