The Brazilian government has announced the launch of a new international investment fund that aims to tackle deforestation in the Amazon rainforest.
The fund, which will be managed by Brazil’s National Development Bank, wants to raise £10.5bn by 2021 from international businesses and governments. Projects that promote alternatives to deforestation are set to benefit from the money.
The money is expected to be invested in projects that promote alternatives to deforestation for Amazonian communities and improve protection for nature reserves.
Brazil’s president Luiz Inacio Lula da Silva spoke at the launch of the fund to say that the country was committed to protecting the Amazon and its nature reserves. The president was keen to stress that although international funds are being sought, Brazil will determine how the money is invested.
Forestry has become a global concern, after it was discussed at the UN conference in Bali. Delegates agreed to put a greater emphasis on limiting CO2 emissions from deforestation.
Brazil’s minister for strategic affairs, Roberto Mangabeira Unger, said: “The fund is a vehicle by which foreign governments can help support our initiatives without exerting any influence over our national policy. We are not going to trade sovereignty for money.”