Norway and the United Kingdom announce R$450 million in Amazon funding

Norway and the United Kingdom announce R$450 million in Amazon funding
With the new contributions, around R$4 billion will be available for new projectss

Norway and the United Kingdom announced new contributions to the Amazon Fund this Monday (11). Norway, the fund’s main donor, will commit a further US$50 million (R$245 million), while the United Kingdom will add £35 million (R$215 million).

The announcement was made during an event at the Brazilian pavilion at COP28 in Glasgow, Scotland. Norway’s Environment and Climate Minister Andreas Bijelli and Eriksson said the country “recognizes the remarkable results demonstrated by Lula and Marina”. He also highlighted that the fund is a “results-based model” that will “strengthen the country”.

Graham Stewart, the UK’s minister for energy security and net zero, also praised Amazon’s funding. He said the project was “working” and that it was necessary to “look for additional resources to help control deforestation.”

With the new contributions, the Amazon Fund will have about R$4 billion available to support new projects. Since its creation in 2008, the fund has supported 106 projects, with a total investment of R$1.8 billion.

Busy year

In 2023, Amazon Fund also received €20 million (R$110 million) from the German government and signed an agreement to receive 80 million pounds (R$500 million), 5 million Swiss francs (R$30 million) from the British government. from the Swiss government and US$3 million (R$15 million) from the United States.

COP28 is the “biggest public call ever made by the initiative”, Restaura Amazônia, which will allocate R$450 million to environmental restoration projects for large deforested or degraded areas.

Besides Restaura Amazônia, four other new projects to monitor forest and sustainable production activities were approved and contracted this year.

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What cash statement is issued?

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About the Author: Morton Obrien

"Reader. Infuriatingly humble travel enthusiast. Extreme food scholar. Writer. Communicator."

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