EU steps in to boost Amazon rainforest protection plan

FILE PHOTO: An aerial view shows trees as the sun rises at the Amazon rainforest in Manaus, Amazonas State, Brazil October 26, 2022. REUTERS/Bruno Kelly/File Photo

SANTIAGO DE COMPOSTELA, Spain (Reuters) - The European Union on Friday threw its weight behind a plan to protect the Amazon rainforest, pledging to coordinate financial contributions from EU members and making sure the money was spent as intended under its Global Gateway investment scheme.

Team Europe, which includes EU members states and institutions such as the European Investment Bank, will coordinate 260 million euros ($277 million) already pledged by Spain, Italy, Sweden, France, Germany and the Netherlands to curb deforestation in the Amazon.