## IMF Managing Director Kristalina Georgieva Announces Operationalization of the Resilience and Sustainability Trust (RST) to Help Vulnerable Countries Meet Long-Term Challenges

_IMF News, October 12, 2022_

## Source details

**Canonical URL:** [IMF Managing Director Kristalina Georgieva Announces Operationalization of the Resilience and Sustainability Trust (RST) to Help Vulnerable Countries Meet Long-Term Challenges](https://www.imf.org/en/news/articles/2022/10/12/pr22348-md-announces-operationalization-of-rst)

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## Bibliographic details
- Published: October 12, 2022

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### Key announcement
- 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.

### Purpose and scope of the RST
- 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.

### Coverage and eligibility
- 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.

### Fundraising, pledges, and initial contributions
- 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.

### Implementation and operational notes
- 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.

### Contacts
- IMF Communications Department, MEDIA RELATIONS.
- PRESS OFFICER: Wafa Amr
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org
- @IMFSpokesperson

*Source: IMF Press Release No. PR22/348, October 12, 2022.*

---


## References

- [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)

_Source: https://www.imf.org/en/news/articles/2022/10/12/pr22348-md-announces-operationalization-of-rst_