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).
(Reporting by Carolina Pulice and Brendan O’Boyle, Editing by Isabel Woodford)
