IMF gives final approval for nearly $1bn in financing to Costa Rica
FILE PHOTO: The International Monetary Fund logo is seen inside the headquarters at the end of the IMF/World Bank annual meetings in Washington, U.S., October 9, 2016. REUTERS/Yuri Gripas/File Photo
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).
