IMF approves $259m loan to support PNG’s climate resilience
Fund also disburses $125 million to support economic reforms in Papua New Guinea
The International Monetary Fund has approved a $259 million loan, to be disbursed over two years, aimed at boosting climate resilience in Papua New Guinea (PNG).
The IMF said on December 11 that its executive board had decided to provide the loan as part of the fund’s resilience and sustainability facility (RSF).
The approval marks the first time a Pacific island nation has gained access to the RSF, which the IMF established in late 2022. The RSF aims to provide countries with affordable long-term
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