France will boost the volume of International Monetary Fund resources it channels back to the institution for lending to the poorest countries facing climate risks, Emmanuel Macron said.
Two years ago, the French president set a target to boost financing for poor countries by having the richest lend 20% of their share of IMF reserve assets known as Special Drawing Rights.
At a summit on global finance in Paris, IMF Managing Director Kristalina Georgieva said Thursday that the aim of recycling $100 billion of SDR has now been met.
“We have pushed everyone to meet their commitments and now we will recycle 40% of our SDR,” Macron said on France Info radio ahead of the closing session of the Paris summit.
