The International Monetary Fund (IMF) has approved $319m (£260m) of funding for Rwanda from a new climate change programme, to support the country’s “ambitious agenda to build resilience to climate change and help to catalyse further financing”.
It’s the first African nation to benefit from the Resilience and Sustainability Facility (RSF) meant to help countries address climate change with longer-term, low-cost financing, according to the IMF.
African countries have been criticising rich countries for not adequately funding climate change mitigation projects in Africa despite them being the main contributors to global warming.
Rwanda will receive the funding in instalments.
