{ "title": "IMF Managing Director Kristalina Georgieva Announces Operationalization of the Resilience and Sustainability Trust (RST) to Help Vulnerable Countries Meet Long-Term Challenges", "publication": "IMF News, October 12, 2022", "sourceUrl": "https://www.imf.org/en/news/articles/2022/10/12/pr22348-md-announces-operationalization-of-rst", "canonical": "https://www.imf.org/en/news/articles/2022/10/12/pr22348-md-announces-operationalization-of-rst", "overlayPath": "/en/news/articles/2022/10/12/pr22348-md-announces-operationalization-of-rst/index.md", "summary": "IMF Managing Director Kristalina Georgieva Announces Operationalization of the Resilience and Sustainability Trust (RST) to Help Vulnerable Countries Meet Long-Term Challenges", "publishDate": "2022-10-12", "sections": [ { "heading": "Key announcement", "content": "- Press Release No. PR22/348; October 12, 2022.\n- Managing Director Kristalina Georgieva: \"the new Resilience and Sustainability Trust (RST) has become operational.\"\n- The Executive Board has been notified that \"with our fundraising to date, the RST is ready to start lending operations.\"\n- IMF will begin approving members’ requests for Resilience and Sustainability Facility (RSF) arrangements; initial requests expected to be discussed at the Executive Board in the coming months." }, { "heading": "Purpose and scope of the RST", "content": "- RST is the IMF’s first facility to provide long-term affordable financing.\n- Objective: support countries to build resilience to structural challenges—such as climate change and pandemics—to help maintain longer-term economic and financial stability and to catalyze other public and private financing.\n- RST serves as a third pillar of the IMF’s lending toolkit alongside the General Resources Account (GRA) and the Poverty Reduction and Growth Trust (PRGT).\n- Financing terms: 20-year maturity and a 10½‑year grace period." }, { "heading": "Coverage and eligibility", "content": "- Will support eligible low and middle-income countries—comprising about three-quarters of the IMF’s membership.\n- RST will amplify the impact of the US$650 billion SDR allocation implemented last year by channeling resources from economically stronger members to countries where the needs are greatest.\n- The IMF is already in advanced discussions with a diverse group of countries on climate policy actions and is preparing for RST lending to support policies for pandemic preparedness." }, { "heading": "Fundraising, pledges, and initial contributions", "content": "- First-round contributions: Australia, Canada, China, Germany, Japan, and Spain provided the first round of resource contributions amounting to a total of SDR 15.3 billion (US$ 20 billion).\n- Total current RST pledges to date: SDR 29 billion (US$ 37 billion) from 13 countries.\n- Further contributions expected to become effective in early 2023 once countries complete their domestic procedures.\n- Management commitment to continue fundraising to broaden the pool of contributors and ensure sufficient resources for anticipated demand for RSF arrangements." }, { "heading": "Implementation and operational notes", "content": "- The Executive Board approved establishment of the RST in April 2022 to operationalize around the time of the 2022 IMF/World Bank Annual Meetings.\n- The IMF will build experience with the instrument during the initial phase and apply lessons from early cases to benefit the broader group of eligible countries.\n- Cooperation with other international institutions is underway for pandemic preparedness policy support." }, { "heading": "Contacts", "content": "- IMF Communications Department, MEDIA RELATIONS.\n- PRESS OFFICER: Wafa Amr\n- Phone: +1 202 623-7100\n- Email: MEDIA@IMF.org\n- @IMFSpokesperson\n\nSource: IMF Press Release No. PR22/348, October 12, 2022.\n\n---\n\n\n References\n\n- https://www.imf.org/en/about/senior-officials/bios/kristalina-georgieva\n- PRESS CENTER\n- Australia and the IMF\n- Canada and the IMF\n- Germany and the IMF\n- Japan and the IMF\n- Russian Federation and the IMF\n- Spain and the IMF\n- IMF-World Bank Debt Sustainability Framework for Low-Income Countries -- A Factsheet\n- Special Drawing Rights (SDRs) -- A Factsheet\n- Press Releases\n- General Resources Account\n- Poverty Reduction and Growth Trust\n- IMF Resilience and Sustainability Trust\n- Resilience and Sustainability Trust FAQs (imf.org)\n- The Resilience and Sustainability Facility (RSF) (imf.org)\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2022/10/12/pr22348-md-announces-operationalization-of-rst" } ], "bullets": [ "[Markdown version](/en/news/articles/2022/10/12/pr22348-md-announces-operationalization-of-rst/index.md)", "[Structured JSON version](/en/news/articles/2022/10/12/pr22348-md-announces-operationalization-of-rst/index.json)", "[Bundle manifest](/en/news/articles/2022/10/12/pr22348-md-announces-operationalization-of-rst/bundle-manifest.json)", "Published: October 12, 2022", "Press Release No. PR22/348; October 12, 2022.", "Managing Director Kristalina Georgieva: \"the new Resilience and Sustainability Trust (RST) has become operational.\"", "The Executive Board has been notified that \"with our fundraising to date, the RST is ready to start lending operations.\"", "IMF will begin approving members’ requests for Resilience and Sustainability Facility (RSF) arrangements; initial requests expected to be discussed at the Executive Board in the coming months.", "RST is the IMF’s first facility to provide long-term affordable financing.", "Objective: support countries to build resilience to structural challenges—such as climate change and pandemics—to help maintain longer-term economic and financial stability and to catalyze other public and private financing.", "RST serves as a third pillar of the IMF’s lending toolkit alongside the General Resources Account (GRA) and the Poverty Reduction and Growth Trust (PRGT).", "Financing terms: 20-year maturity and a 10½‑year grace period.", "Will support eligible low and middle-income countries—comprising about three-quarters of the IMF’s membership.", "RST will amplify the impact of the US$650 billion SDR allocation implemented last year by channeling resources from economically stronger members to countries where the needs are greatest.", "The IMF is already in advanced discussions with a diverse group of countries on climate policy actions and is preparing for RST lending to support policies for pandemic preparedness.", "First-round contributions: Australia, Canada, China, Germany, Japan, and Spain provided the first round of resource contributions amounting to a total of SDR 15.3 billion (US$ 20 billion).", "Total current RST pledges to date: SDR 29 billion (US$ 37 billion) from 13 countries.", "Further contributions expected to become effective in early 2023 once countries complete their domestic procedures.", "Management commitment to continue fundraising to broaden the pool of contributors and ensure sufficient resources for anticipated demand for RSF arrangements.", "The Executive Board approved establishment of the RST in April 2022 to operationalize around the time of the 2022 IMF/World Bank Annual Meetings.", "The IMF will build experience with the instrument during the initial phase and apply lessons from early cases to benefit the broader group of eligible countries.", "Cooperation with other international institutions is underway for pandemic preparedness policy support.", "IMF Communications Department, MEDIA RELATIONS.", "PRESS OFFICER: Wafa Amr", "Phone: +1 202 623-7100", "Email: MEDIA@IMF.org", "@IMFSpokesperson", "[https://www.imf.org/en/about/senior-officials/bios/kristalina-georgieva](https://www.imf.org/en/about/senior-officials/bios/kristalina-georgieva)", "[PRESS CENTER](http://presscenter.imf.org/)", "[Australia and the IMF](http://www.imf.org/external/country/AUS/index.htm)", "[Canada and the IMF](http://www.imf.org/external/country/CAN/index.htm)", "[Germany and the IMF](http://www.imf.org/external/country/DEU/index.htm)", "[Japan and the IMF](http://www.imf.org/external/country/JPN/index.htm)", "[Russian Federation and the IMF](http://www.imf.org/external/country/RUS/index.htm)", "[Spain and the IMF](http://www.imf.org/external/country/ESP/index.htm)", "[IMF-World Bank Debt Sustainability Framework for Low-Income Countries -- A Factsheet](https://www.imf.org/en/about/factsheets/sheets/2023/imf-world-bank-debt-sustainability-framework-for-low-income-countries)", "[Special Drawing Rights (SDRs) -- A Factsheet](https://www.imf.org/en/about/factsheets/sheets/2023/special-drawing-rights-sdr)", "[Press Releases](https://www.imf.org/en/news/searchnews)", "[General Resources Account](https://www.imf.org/en/About/Factsheets/IMF-Lending)", "[Poverty Reduction and Growth Trust](https://www.imf.org/en/About/Factsheets/IMF-Support-for-Low-Income-Countries)", "[IMF Resilience and Sustainability Trust](https://www.imf.org/en/Topics/Resilience-and-Sustainability-Trust)", "[Resilience and Sustainability Trust FAQs (imf.org)](https://www.imf.org/en/About/FAQ/Resilience-and-Sustainability-Trust)", "[The Resilience and Sustainability Facility (RSF) (imf.org)](https://www.imf.org/en/About/Factsheets/Sheets/2022/resilience-and-sustainability-facility-rsf)", "[https://www.imf.org/en/home](https://www.imf.org/en/home)" ], "alternates": { "markdown": "/en/news/articles/2022/10/12/pr22348-md-announces-operationalization-of-rst/index.md", "json": "/en/news/articles/2022/10/12/pr22348-md-announces-operationalization-of-rst/index.json", "bundleManifest": "/en/news/articles/2022/10/12/pr22348-md-announces-operationalization-of-rst/bundle-manifest.json" }, "generatedAtUtc": "2026-09-26T01:34:00.644Z" }