Switzerland and the United States have made a sizable donation of $8.4 million to Brazil’s Amazon Fund in an effort to combat deforestation and preserve the largest tropical rainforest in the world, according to the Brazilian National Development Bank (BNDES), which manages the fund. The bank announced that Switzerland contributed 5 million Swiss francs ($5.4 million) and the United States donated $3 million.
In April, President Joe Biden pledged a total of $500 million over five years during a climate meeting, and this $3 million donation from the United States is part of that commitment. President Luiz Inacio Lula da Silva reiterated Brazil’s aim to achieve zero deforestation by 2030 at the same meeting.
Tereza Campello, the bank’s social-environmental director, stated that these contributions demonstrate the confidence and dedication of these countries towards Brazil’s environmental agenda and the Amazon Fund’s initiatives in the region.
The Amazon Fund was established in 2008 with the goal of raising funds to tackle deforestation. Norway initially contributed $1 billion, followed by Germany with $68 million. More recently, Britain and the European Union have also committed to provide support.
This fund aids in the prevention, monitoring, and combat of deforestation in the Amazon and promotes sustainable development. Since its inception, BNDES has financed 102 projects with a cumulative investment of 1.75 billion reais ($340 million).
($1 = 5.1550 reais)
(Reporting by Anthony Boadle; editing by Grant McCool)
Credit: The Star : News Feed
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