Norway announces $60M donation to Amazon Fund
In recognition of Brazil's achievement in reducing Amazon deforestation by 31 percent in 2023, Norway has pledged $60 million to the Amazon Fund. The announcement was made by Prime Minister Jonas Gahr Støre at the Global Citizen Now: Rio de Janeiro Conference. The Amazon Fund is managed by the National Bank for Economic and Social Development (BNDES) and coordinated by the Ministry of the 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 on Sunday (Nov. 17) during the conference.
BNDES Socio-Environmental Director Tereza Campello announced that the Amazon Fund has approved $153 million in projects so far this year.
She stated that the Amazon Fund is 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,” said the BNDES director.
Deforestation
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 states 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."
