By Edward Dankwah, GNA
Accra, July 18, GNA – Mr. Seidu Issifu, the Minister of State in charge of Climate Change and Sustainability, as part of ongoing engagements to mobilise international support for communities affected by Ghana’s recent floods, has held a strategic meeting with the International Monetary Fund (IMF).
The meeting formed part of a broader series of high-level consultations undertaken by the Office of the Minister of State with development partners, international organizations, private sector institutions and philanthropic organizations.
A statement issued by the Office of the Minister of State for Climate Change and Sustainability in Accra, said this was to mobilise technical and financial assistance for flood-affected communities while strengthening Ghana’s long-term climate resilience.
It said it also formed part of the Government’s Climate Emergency Resource Mobilization Track, which sought immediate humanitarian support and sustained investment in climate adaptation.
Mr. Adrian Alter, the IMF Resident Representative for Ghana, proposed the establishment of a Climate Community Fund as an innovative domestic financing mechanism to support Ghana’s climate agenda.
He suggested exploring dedicated revenue streams, including royalties and contributions from the private sector through Corporate Social Responsibility (CSR) programmes, as sources of financing for climate resilience and adaptation initiatives.
The meeting also explored opportunities to strengthen collaboration under the IMF’s Policy Coordination Instrument (PCI), recognizing that climate resilience was increasingly central to macroeconomic stability.
The Minister of State emphasised the importance of incorporating climate considerations into ongoing economic reforms to help lower borrowing costs, improve investment confidence, and support the development of a robust pipeline of bankable climate projects.
He highlighted the growing economic implications of climate change, including the impact of climate shocks on sovereign creditworthiness, and considered opportunities under the IMF’s Resilience and Sustainability Facility (RSF) and climate-related public investment management reforms.
Mr. Issifu reaffirmed Government’s commitment to implementing Ghana’s Nationally Determined Contributions (NDCs), National Adaptation Plan (NAP), Climate Prosperity Plan and other national climate strategies, while advancing initiatives such as green bonds, sustainability reporting frameworks, coastal resilience programmes and innovative climate financing mechanisms.
The Minister expressed appreciation to the IMF for its continued partnership and support to Ghana.
He called for deeper collaboration to ensure climate resilience was fully integrated into the country’s economic transformation agenda.
Both parties reaffirmed the importance of coordinated action in building a more resilient economy capable of withstanding future climate shocks while supporting sustainable and inclusive development.
GNA
Edited by Benajmin Mensah
