Exclusive: IMF, others should give $100 bln climate FX guarantee - document

📆 5/27/2023 3:41 AM
📰 Reuters

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A top-level meeting in Paris next month will lay out a $100 billion plan to drive more money into climate and development finance in poorer countries by providing currency guarantees to investors, according to a document seen by Reuters.

The plan, which has not previously been reported, was sent to the world's governments ahead of the "Summit for a New Global Financing Pact" in Paris in June by the Bridgetown Initiative spearheaded by Barbados leader Mia Mottley.

The guarantees would be for "just green transition investments", which one source involved in the plans said could include "green" bonds focused on environmentally friendly projects as a well as others such as ocean-focused "blue" bonds and sustainability-linked bonds. The Paris summit, hosted by French President Emmanuel Macron on June 22-23, will be attended by a number of world leaders and representatives from flagship global institutions such as the IMF and United Nations.

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Exclusive: IMF, others should give $100 billion climate foreign-currency guarantee, document saysA top-level meeting in Paris next month will lay out a $100 billion plan to drive more money into climate and development finance in poorer countries by providing currency guarantees to investors, according to a document seen by Reuters.
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