Switzerland, US donate $8 million to Brazil's fund to fight Amazon deforestation

  • World
  • Wednesday, 04 Oct 2023

FILE PHOTO: Smoke from a fire rises into the air as trees burn amongst vegetation in Brazil's Amazon rainforest near Humaita, Amazonas state, Brazil, August 3, 2023. REUTERS/Leonardo Benassatto/File Photo

BRASILIA (Reuters) - Switzerland and the United States have donated $8.4 million to Brazil's Amazon Fund to help stop deforestation and preserve the world's largest tropical rainforest, the Brazilian National Development Bank (BNDES) that manages the fund said on Tuesday.

Switzerland contributed 5 million Swiss francs ($5.4 million) and the United States $3 million, the bank said in a statement.

The U.S. donation is part of a $500 million contribution over five years announced by President Joe Biden in April at a climate meeting where President Luiz Inacio Lula da Silva repeated Brazil's pledge to reach zero deforestation by 2030.

"These contributions reinforce the commitment and confidence of these countries in Brazil's environmental agenda and the Amazon Fund's actions in the region," the bank's social-environmental director Tereza Campello said.

The Amazon Fund was created in 2008 to raise donations to fight deforestation. Norway provided an initial $1 billion and Germany $68 million. More recently Britain and the European Union said they will contribute.

The fund supports the prevention, monitoring and combat of Amazon deforestation and fosters sustainable development. Since its creation, it has funded 102 projects with a total investment of 1.75 billion reais ($340 million), BNDES said.

($1 = 5.1550 reais)

(Reporting by Anthony Boadle; editing by Grant McCool)

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In World

Feature: Swedes experiencing "double winter" ahead of Christmas
China publishes action plan to improve air quality
WFP appeals for more funding to meet humanitarian needs in Ethiopia
Botswana reduces monetary policy rate by 25 basis points
Peru attorney general suspended as probe into her actions escalates
Zambian president vows to make agriculture leading industry
UN says heavy rains hamper military operations against al-Shabab in Somalia
Spain expels two US embassy staff for bribing intelligence agents - report
German budget crisis seen dragging into next year as coalition haggles
Ukraine to use trains to move blocked lorries across Polish border

Others Also Read