Brazil’s National Development Bank [BNDE3:BZ] has approved BRL318m (USD65m) from the USD1.3bn Amazon Fund for a security project aimed at combating deforestation and environmental crimes in the Amazon rainforest, as reported by Reuters on November 22. This marks the first major law enforcement effort by the Amazon Fund, supported by four nations and managed by BNDES. The project, designed by the justice ministry and run by Brazil’s Federal Police, aims to address the persistent threat of illegal loggers and miners in the Amazon.

The Brazilian government has reduced deforestation this year but faces ongoing challenges, prompting increased international cooperation with neighboring countries. The funds will be used to purchase helicopters and essential equipment, and an International Police Cooperation Center in Manaus will be established to collaborate with neighboring authorities. The Amazon Fund, initiated in 2008 to promote rainforest preservation, has received donations from various countries, including Norway, Germany, Switzerland, and the United States. President Luiz Inacio Lula da Silva, in office since January, has taken steps to curb Amazon destruction, with deforestation rates showing a significant decrease in the current year, though still above his zero-deforestation pledge for 2030.

Sources:

https://www.reuters.com/world/americas/brazil-approves-65-million-amazon-fund-police-rainforest-2023-11-22/