MercoPress. South Atlantic News Agency

Norway announces new donation to Amazon Fund

“Brazil's success in reducing deforestation is clear evidence of the Lula government's ambition and determination,” Støre said

Norway's Prime Minister Jonas Gahr Støre announced at the Global Citizen Now: Rio de Janeiro Conference that his country would be donating another US$ 60 million to the Amazon Fund, Agencia Brasil reported.

 The measure was approved in recognition of the South American country's achievement in reducing Amazon deforestation by 31% in 2023, it was explained. The Amazon Fund is managed by the National Bank for Economic and Social Development (BNDES) and coordinated by Brazil's Ministry of Environment and Climate Change.

According to BNDES President Aloizio Mercadante, this is another significant demonstration of global trust —particularly from Norway— in President Luiz Inácio Lula da Silva's government's commitment to reducing deforestation, preserving the Amazon, and mitigating the effects of climate change.

“Norway is a longstanding partner, and our collaboration continues to grow stronger,” said Mercadante in a statement.

Prime Minister Støre emphasized the impact of the fight against deforestation in the country. “Brazil's success in reducing deforestation is clear evidence of the Lula government's ambition and determination. It demonstrates how targeted actions can deliver significant results for the climate and nature,” he said.

BNDES Socio-Environmental Director Tereza Campello announced that the Amazon Fund has approved US$ 153 million in projects so far this year. She added that the Amazon Fund was undoubtedly one of the most closely audited in the world. The BNDES is committed to strengthening its governance to enhance the fund's impact on environmental protection, the bioeconomy, and social inclusion in the Amazon region.

“This new donation from Norway confirms that we are on a promising path to expand initiatives that benefit both the people and the environment of the Amazon region,” Campello argued.

According to the BNDES, data from the Satellite Monitoring of Deforestation in the Legal Amazon Project (Prodes/Inpe) indicate that between August 2023 and June 2024, deforestation in Brazil's Amazon reached its lowest level since 2015. This marks the fifth lowest level of deforestation since monitoring began in 1988.

The BNDES insisted that the Brazilian government's goal of achieving zero deforestation in the Amazon by 2030 is “crucial for the world's largest rainforest, which plays a vital role in global climate regulation.”