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Resilience and Sustainability Facility: Rwanda successfully honors its commitments to the IMF

05/12/2024
Source : ORISHAS FINANCE
Categories: Sectors

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Dans un entretien avec la presse le mardi 3 décembre 2023, Gabor Pula, resident representative of the International Monetary Fund (IMF)

said that Rwanda has successfully fulfilled all its commitments to this Financial Institution, under the Resilience and Sustainability Facility (RSF), six months ahead of schedule.

The IMF's resident representative in Rwanda first praised Rwanda for its unwavering commitment to the climate program supported by RSF. And then announced that the country had successfully fulfilled its commitments ahead of schedule. According to him, Rwanda's early access to RSF was made possible by the country's preparation and by the climate policies already in force. Indeed, the performance of the Rwandan authorities under the RSF program was exceptionally solid. According to the IMF's resident representative in Rwanda, the authorities have accelerated the implementation of the reform measures initially agreed upon in order to demonstrate their unwavering commitment to the climate program supported by the RSF. Thus, the country has now successfully fulfilled all its commitments under the RSF, six months ahead of the initial schedule (December 2024)

.

This is the first and only country among members to have achieved this, and it highlights Rwanda's ability to accelerate reforms ahead of schedule. Close cooperation with development partners has also been critical to this success according to Gabor Pula . Rwanda has succeeded in developing a unique approach to catalyze private financing for the fight against climate change, which could serve as a model for other developing countries. This unique approach combines three main elements. These are the advanced infrastructure of the Private and Public Climate Investment Facilities (Ireme and Intego) that were already established before the RSF, transparency frameworks, such as climate budget labeling, green taxonomy, and the adoption of international climate reporting standards that were developed under the

RSF.
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