The International Monetary Fund (IMF) has approved US$ 764 million for the first batch of climate resilience loans under the Resilience and Sustainability Trust (RST) Fund to Jamaica.

The RST fund is aimed at redistributing affordable finance from rich to poorer countries, along with policy support to manage macroeconomic climate risks. With the funding, there would be incentives to use renewable energy sources, use less energy overall, produce green financial products, and handle climate risks in the financial industry effectively. The IMF Executive Board agreement under the RSF for US$764 million (150 percent of quota) aims to improve the economy's decarbonization, manage transition risks, and increase physical and fiscal resilience to climate change.