The Resilience and Sustainability Facility (RSF) provides affordable longer-term financing to support low-income and vulnerable middle-income countries undertaking macro-critical reforms to reduce risks to prospective balance of payments (BoP) stability, including those related to climate change and pandemic preparedness.
Purpose |
Strengthen macroeconomic resilience and sustainability by (i) supporting policy reforms that reduce macro-critical balance of payments risks associated with climate change and pandemic preparedness, and (ii) augmenting policy space and financial buffers to mitigate the risks arising from such longer-term structural challenges. |
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Eligibility |
All PRGT-eligible low-income countries, small states (population under 1.5 million) with per capita GNI below 25 times the 2021 IDA operational cutoff, and all middle-income countries with per capita GNI below 10 times the 2021 IDA operational cutoff. |
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Eligible low- and middle-income countries requesting access to the RSF need:
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Conditionality |
Linked to reform progress. Each measure is connected to one RSF disbursement. A reform measure can be a single policy action or a set of very closely related actions constituting a single reform. Where a measure includes multiple actions, all must be implemented to unlock the associated disbursement. |
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Review
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Reviews will take place concurrently with reviews under the UCT program (except when the UCT program is an FCL) once the expected date of completion of a reform measure and the associated disbursement availability date has passed. |
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Terms |
Duration |
Expected to coincide with the remaining duration of the accompanying UCT program. Minimum duration is 18 months. |
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Expires when all amounts available are disbursed. Automatically ends upon the termination, cancellation, or expiry of the concurrent IMF-supported program. |
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| Repayment |
20-year maturity and a 10½ -year grace period during which no principal is repaid. |
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Interest rate |
Borrowers pay an affordable interest rate with a modest margin over the three-month SDR rate. A tiered interest structure differentiates financing terms across country groups, with low-income members benefiting from more concessional terms:
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| Access |
Overall cumulative access cap set at 150 percent of quota or SDR 1 billion, whichever is smaller. |
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Starting point of access determination is a norm of 75 percent of quota. |
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Learn more about IMF lending, or visit our other lending facilities factsheets:
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