IMF Approves RSF Arrangement for Madagascar Climate Resilience

The World Bank Group (WBG) and International Monetary Fund (IMF) are pleased to announce that the Enhanced Cooperation Framework for Climate Action is now operational. Madagascar will be the first country benefitting from the Framework in the context of the Resilience and Sustainability Facility (RSF) arrangement approved today by the IMF Executive Board, and the WBG active engagement on climate change in the country.

Climate change is exacerbating poverty in Madagascar. Through the Framework, WBG-IMF coordinated efforts will strive to further support the country’s resilience in the face of climate change, working closely with other development partners. 

The Framework aims to support efforts by country authorities to bring together development partners, the private sector and civil society to address the effects of climate change. Building on IMF-WBG analytical expertise and financing instruments, the institutions will jointly provide critical support to the design and implementation of country authorities’ climate actions. This will be done through an integrated, country-led approach to policy reforms and climate investments, including where applicable through complementary and well-sequenced reform measures. 

Madagascar is the first country to benefit from this Framework, building on analysis such as the WBG's Country Climate and Development Report (CCDR) and the IMF’s Climate Policy Diagnostics and Climate Macroeconomic Assessment Program (CMAP). Examples of areas where policy synergies and capacity development are being coordinated among the country authorities, the IMF and the WBG include the promotion of green and resilient investments and adaptation interventions that will deliver immediate development benefits.

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