IMF gives final approval for nearly $1bn in financing to Costa Rica
Reuters
Published Nov 14, 2022 03:43PM ET
MEXICO CITY (Reuters) - The International Monetary Fund (IMF) gave final board approval to grant Costa Rica a $725 million sustainability loan, the Fund said in a statement Monday, directed at the Central American country's climate agenda.
The IMF also said it completed its third review of Costa Rica's Extended Fund Facility, unlocking another $270 million in financing for "immediate disbursement."
Kenji Okamura, the IMF's deputy managing director and acting chair of the board, said in a statement that the sustainability loan "will support Costa Rica's ambitious agenda to build climate resilience and transition to a zero-carbon economy."
Costa Rica is the first country to access the so-called Resilience and Sustainability Facility (RSF).
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Written By: Reuters
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