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Amazon Fund raises BRL 726 mi in 2023, highest amount since 2009

According to the fund manager, projects will have acess to BRL 3 bi

Wellton Máximo

Published on 02/02/2024 - 10:02

Agência Brasil - Brasília

After a four-year hiatus in fundraising, the Amazon Fund resumed activities and received BRL 726 million from partner countries in 2023, as announced by the Ministry of the Environment and Climate Change and the National Bank for Economic and Social Development (BNDES) on Thursday (Feb. 1). This marks the largest fundraising amount since BRL 1.9 billion in 2009.

The United Kingdom emerged as the top donor, contributing BRL 497 million. Germany followed in second place with BRL 186 million, trailed by Switzerland with BRL 28 million and the United States with BRL 15 million. These figures represent the actual funds received by the Amazon Fund. Additionally, there are pending donations totaling BRL 3.1 billion announced for future years, with BRL 2.4 billion pledged by the United States alone.

"It was a brief year due to the need to rebuild the team and develop a comprehensive strategy. Despite the challenges of rebuilding our entire execution capacity in such a short period, we have achieved performance indicators that surpass our historical records in both project execution and donation receipts," stated Tereza Campello, the socio-environmental director of the National Bank for Economic and Social Development.

Last year, the fund approved BRL 1.3 billion in projects and public calls, as reported by the ministry and the bank. BNDES has stated that there is BRL 3 billion available for investment, with BRL 2.2 billion earmarked for projects currently under review.

Minister of Environment and Climate Change Marina Silva was scheduled to participate in the presentation of the balance sheet but canceled her public engagements after being diagnosed with COVID-19. The ministry's executive secretary, João Paulo Capobianco, who stepped in for her at the event, noted that the nearly 50 percent reduction in deforestation in the Amazon had stimulated donations.

"We achieved a 49.9 percent reduction in deforestation in 2023 compared to 2022. This significant reduction has had a very positive impact on the fund, allowing the Brazilian government to actively pursue new donations. Several countries have been encouraged by the decline in deforestation and have expressed interest in contributing," he stated.

Resumption

Established in 2008 and coordinated by the Ministry of the Environment and Climate Change, the Amazon Fund is managed by the BNDES and backs initiatives aimed at forest monitoring, deforestation combat, and sustainable development promotion. The fund also supports projects aligned with the Action Plan for the Prevention and Control of Deforestation in the Legal Amazon.

The Amazon Fund resumed its operations in January 2023 after a four-year hiatus without receiving contributions or approving projects. In 2019, during the administration of former President Jair Bolsonaro, then-Environment Minister Ricardo Salles dissolved the fund's resource management committees. These committees, mandated by contract, were essential for the fund's operation. Their absence led to the fund being frozen, unable to finance projects or receive donations.

In its 16 years of existence, the Amazon Fund has invested BRL 1.8 billion in more than 100 sustainable production projects. According to the BNDES, these projects have benefited 241,000 people, 211 indigenous lands and 196 conservation units.

In its 16 years of operation, the Amazon Fund has invested BRL 1.8 billion in over 100 sustainable production projects. According to the BNDES, these initiatives have benefited 241,000 individuals, 211 indigenous lands, and 196 conservation units.