The IMF chief says that rich countries have met a target of reallocating $100B of funds from the institution to battle climate crisis and poverty in developing countries
France and Japan announce that they will redeploy 30 percent of their SDRs for this purpose. / Photo: Reuters
"We meet the target, we do have the 100 billion," Kristalina Georgieva told a roundtable discussion at a climate financing summit in Paris on Thursday.France and Japan also announced ahead of the summit that they would redeploy 30 percent of their SDRs for this purpose. French leader Emmanuel Macron said in his opening remarks that the IMF and partner organisation the World Bank were"not completely suited" to the world's current challenges.
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