IMF approves funding for Sustainability and Resilience Service in Paraguay - .::Agencia IP::.

The board of directors of the International Monetary Fund (IMF) has approved the inclusion of Paraguay in the Sustainability and Resilience Service (SRS), an instrument that provides accessible financing for reforms aimed at promoting sustainable development and mitigating the effects of climate change.

Asunción, Agencia IP.- The board of directors of the International Monetary Fund (IMF) has approved the inclusion of Paraguay in the Sustainability and Resilience Service (SRS), an instrument that provides accessible financing for reforms aimed at promoting sustainable development and mitigating the effects of climate change.

According to the IMF statement, «Paraguayan authorities have committed to implementing an ambitious set of climate-related reforms consistent with the maximum financing access granted to the country.»

The reform plan will span two years and includes projects for climate risk containment in the financial sector, the expansion of the clean and renewable energy matrix, forest conservation, and the decarbonization of the productive matrix.

Paraguay is the first country in South America to be accepted to implement the SRS. It is also one of the few countries to access this IMF instrument’s maximum financing.