International Monetary Fund (IMF) Country Representative, Jayendu De, has said that Papua New Guinea’s green finance reforms are helping strengthen the country’s climate resilience and long-term economic sustainability under the IMF’s Resilience and Sustainability Facility (RSF) program.
Speaking during the first session at the recently held 2026 Green Finance Summit, De explained that the RSF was established by the IMF in 2022 to help countries address challenges linked to climate change and pandemic preparedness.
He said the facility provides long-term balance of payments support while also supporting reforms aimed at improving climate resilience and sustainability.
“The RSF is designed around reform measures,” De said.
“In Papua New Guinea, the RSF program began in December 2024 as a 24-month reform program.”
De explained that PNG’s RSF program is being implemented alongside the IMF’s Extended Credit Facility and Extended Fund Facility programs, which focus on broader macroeconomic and balance of payments support.
He added that the country is currently progressing through the third review stage of the RSF program, with a fourth review still ahead.
According to De, the RSF program includes ten reform measures grouped under four main pillars:
- disaster risk management,
- climate-sensitive public investment management,
- green finance,
- adaptation policy.
He said the reforms are also closely linked to the United Nations Sustainable Development Goals (SDGs).
“When we examined the RSF reform measures alongside the SDGs, we found strong linkages between them,” he stated.
Among the SDGs connected to the reforms are affordable and sustainable energy, resilient infrastructure, sustainable cities and communities, climate action, and global partnerships.
De highlighted several reforms already underway in the country, including the establishment of a public website providing hazard mapping data to improve disaster preparedness and climate resilience.
Another key reform measure being developed is the proposed Disaster Management Act aimed at strengthening national disaster response systems.
He also highlighted the importance of green taxonomy reforms currently being implemented through the Bank of Papua New Guinea.
De explained that green taxonomy provides a framework that helps financial institutions and investors identify which investments qualify as environmentally sustainable.
“This is important because financial institutions and investors need clear standards to determine which projects support climate and sustainability objectives,” he said.
Another major reform initiative focuses on improving climate-related data collection through cooperation between the Bank of Papua New Guinea and Treasury.
The initiative aims to establish a centralized national database containing information on climate mitigation and adaptation projects across the country.
The database is expected to improve climate investment planning, transparency, and access to sustainable financing.
Globally, around 28 countries have already accessed the IMF’s Resilience and Sustainability Facility, including Bangladesh and Papua New Guinea within the Indo-Pacific region.
De said PNG’s participation in the RSF reflects growing international recognition of the country’s commitment to climate resilience and sustainable economic reform.
