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More on Brazil

08/02/2008
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Yesterday, Brazil created an international fund to fight deforestation of the Amazon and is accepting contributions to help preserve the world’s largest rain forest. The Amazon Fund is designed to receive up to 21 billion dollars in contributions over the next 13 years.

The limit for contributions in the first year has been set at one billion dollars and Norway will be the first donor to step up with a pledge of 100 million dollars. Norway has also earmark 5 billion dollars worth of investment in Brazil’s restructuring as it heads to a new world leader.

The state bank which will be overseeing the fund, National Economic and Social Development Banks (BNDES), has made it quite clear that donors would not receive any benefits in return for their contributions such as tax exemptions or carbon credits.

Up to 20 percent of the fund’s cash can go to preserving Brazilian ecosystems outside the Amazon, and even in other tropical countries.

As our guest post from yesterday asked, “What’s the Difference?”, we can say that it is becoming apparent that Brazil is taking a pro-active approach to the 21st Century.

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