IMF reaches agreement with Ivory Coast for $1.3 billion sustainability facility
![IMF reaches agreement with Ivory Coast for $1.3 billion sustainability facility](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/02/white-blue-flag-blue-sky-background-wallpaper-copy-space-imf-fund-money-monetary-financial-marketin-1.jpg)
On Friday, the International Monetary Fund (IMF) announced that it had reached a staff-level agreement with Ivory Coast for a $1.3 billion program to combat climate change. This initiative is backed by the IMF’s Resilience and Sustainability Facility.
According to the IMF statement, Ivory Coast, the world’s largest cocoa producer, faces significant exposure and vulnerability to climate change.
“Rising temperatures, rainfall disruptions, flooding, rising sea levels and coastal erosion are major challenges and represent recurring risks for resilient, sustainable and inclusive economic growth,” The IMF fund.
The agreement will go to the fund’s executive board for approval in the next few weeks, the statement mentioned.
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