The International Monetary Fund (IMF) said in a statement on Wednesday that Côte d'Ivoire will create a $500 million green financing fund, to “accelerate” sustainable growth projects.

The IMF notes that this fund will be “intended to be capitalized by public sources such as the Government of Côte d'Ivoire, the Green Climate Fund, the Global Environment Fund (GEF), the Global Environment Facility (GEF), the Global Environment Facility (GEF), the Multilateral Development Banks (MDBs), and the Development Financial Institutions (DFIs), as well as by potential private sources.” According to the institution, “the government of Côte d'Ivoire announced at COP29 in Baku a wide range of initiatives aimed at catalyzing climate finance” in the country. Tiemoko Meyliet Koné, Vice President who represents the country at COP 29, mentioned several actions such as “the conclusion of an agreement with the IMF on the Resilience and Sustainability Facility, the strengthening of governance by creating a national climate change commission and a carbon market office, as well as the adoption of a climate bill.” ;.