IMF chief says $100 bn target met for climate, poverty funds

The head of the International Monetary Fund said Thursday that rich countries had met a target of reallocating $100 billion of funds from the institution to battle climate change and poverty in developing countries.

“We meet the target, we do have the 100 billion,” Kristalina Georgieva told reporters at a climate financing summit in Paris, adding that the fund needed another 40 billion to hit the target and “I’m very proud to announce that we now have 41 billion.”