The International Monetary Fund or IMF Executive Board approved setting interest rate at zero for all loans extended under the Rapid Credit Facility, targeting countries hard hit by natural disasters and conflict.
In IMF Survey Magazine, the Fund writes that it will intensify its engagement with fragile and conflict-affected states in terms of operational work and supporting capacity building over the medium term.
IMF explains that its work on capacity building will need to be embedded in a strategy closely coordinated with lead development partners and aligned with government’s own priorities.
The Fund observes that helping low-income countries build economic resilience and that beyond offering increased access and extended concessional terms for them and that IMF would increase policy advice, technical assistance and capacity building for financing development and achieving the Sustainable Development Goals.
IMF expanded policy advice and analytical work include addressing poverty, equity and inclusion.