IMF Reaches Staff-level Agreement With Tanzania On $790 Million Climate Financing
By Reuters
May 18, 2024 at 11:00:00 AM
FILE PHOTO: 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
NAIROBI (Reuters) - The International Monetary Fund said on Friday that it had reached a staff-level agreement with Tanzania on reforms to bolster resilience against climate change backed by about $790 million in financing.
The concessional financing under the IMF's Resilience and Sustainability Facility is subject to approval by the Fund's executive board, which is expected to meet in the coming weeks.
The IMF also said in a statement that it had reached a staff agreement on a third review of Tanzania's Extended Credit Facility arrangement, which is also subject to executive board approval and would unlock a disbursement of about $150 million.
(Reporting by Hereward Holland; Editing by Alexander Winning)
Reuters is a news agency owned by Thomson Reuters Corporation. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide. Reuters is one of the largest news agencies in the world.
Related Articles
Share News