韧性和可持续性信托——与毛里求斯、荷兰、西班牙和阿拉伯联合酋长国签订的2025年捐款协议

IMF staff regularly produces papers proposing new IMF policies, exploring options forreform, or reviewing existing IMF policies and operations. The Report prepared by IMFstaff and completed on September 8, 2025 has been released. The staff report was issued to the Executive Board for information. The report wasprepared by IMF staff. The views expressed in this paper are those of the IMF staff anddo not necessarily represent the views of the IMF's Executive Board. The IMF’s transparency policy allows for the deletion of market-sensitive informationand premature disclosure of the authorities’ policy intentions in published staff reportsand other documents. Electronic copies of IMF Policy Papersare available to the public fromhttp://www.imf.org/external/pp/ppindex.aspx International Monetary FundWashington, D.C. RESILIENCE AND SUSTAINABILITYTRUST―2025CONTRIBUTION AGREEMENTS WITH MAURITIUS, THENETHERLANDS, SPAIN, AND THE UNITED ARAB EMIRATES Approved ByCarlo Sdralevich (FIN)and Bernhard Steinki(LEG) Prepared by the Financeand LegalDepartments. Thestaffteamwas led by Linda Kaltani and Chanda DeLong and comprisedPhil de Imus, Ivetta Hakobyan and Johannes Kiess (FIN), andStephanie Fontana-Raina and Jonathan Swanepoel (LEG).Excellent production assistance was provided by Amy Miranda(FIN). INTRODUCTION 1.This paper provides an update on Resilience and Sustainability Trust (RST)contribution agreements finalized between March 2024 andSeptember 5, 2025.These agreements are part of the fundraising effort started shortly after the ExecutiveBoard’s April 2022 approval of the establishment of the RST.1,2 2.The agreements presented in this paper relate to three contribution packagescomprising each a Loan Account (LA), Deposit Account (DA) and Reserve Account(RA) contribution and one standalone contribution to the DA.3As envisaged in the2022 RST policy paper and practiced to date, all agreements are consistent with theagreed uniform key substantive terms for RST contributions.4The authorities of the fourcontributing members have consented to the publication of the finalized agreements. 2See agreements finalized before March 2024Resilience And Sustainability Trust – 2022 ContributionAgreements with Australia, Canada, China, Germany, Japan, and Spain.Resilience And SustainabilityTrust – 2023 Contribution Agreements with Estonia, France, Japan, Korea, Lithuania, and TheNetherlands.Resilience And Sustainability Trust – 2023 Contribution Agreements with Italy, Luxembourg,Oman, and the United Kingdom.Resilience And Sustainability Trust – 2024 Contribution Agreementswith Belgium, Malta, Qatar, and Switzerland. 4See Annex 1 ofResilience And Sustainability Trust―2022 Contribution Agreements with Australia,Canada, China, Germany, Japan, and Spainfor a summary of the key substantive terms as provided forin the RST Instrument. The agreements with the Netherlands and Spain augment contributions previously made. The newagreements finalized between March 2024 and September 5, 2025 are: •a contribution package with the Republic of Mauritius totaling SDR 12.2 million, consistingof an agreement with the Ministry of Finance, Economic Planning and Development tocontribute to the LA, DA, and RA; •an amended and restated contribution package with the Netherlands consisting ofagreements with De Nederlandsche Bank for contributions to the LA and DA and with theMinistry of Foreign Trade and Development for the Netherlands for a contribution to theRA, which augment the Netherlands’s overall contribution by SDR 1.7 billion. Combinedwith its 2023 contribution, the Netherlands’ total contribution to the RST now amounts toSDR 2.9 billion; •an amended and restated contribution package with the Kingdom of Spain consisting ofagreements with the Banco de España to the LA and DA and with the Ministry for theEconomy, Trade and Business to the RA , which augment Spain’s overall contribution bySDR 1.5 billion. Combined with its 2022 contribution, Spain’s total contribution to the RSTnow amounts to SDR 2.9 billion; and •an agreement with the United Arab Emirates, represented by the Ministry of Finance, for astandalone contribution to the DA in a total amount of SDR equivalent of US$200 million.Departing from the standardized template for DA contributions, the Ministry of Finance willdisburse the committed amount in ten equal annual deposits each of an SDR-denominatedamount equivalent to US$20 million. The first five deposits will mature ten years after the fifthdeposit is received, and the next five will mature ten years after the tenth deposit is received,consistent with the maturity requirements for DA contributions under the RST Instrument. IN WITNESS WHEREOF,Mauritiusand the International Monetary Fund, as Trustee of the Resilienceand Sustainability Trust, have executed this agreement. Forthe Republic ofMauritius, as represented by theMinistry of Finance, Economic Planning andDevelopment: Kristalina GeorgievaManaging Director AMENDED AND