Bolsonaro: Private enterprise crucial to projects in Amazon

President Jair Bolsonaro said today (Mar. 18) that the public sector is decisive in the sustainable development of the Amazon, but argued that investment from the private enterprise is key to making projects materialize. The statement was made at the launch ceremony of the Amazon Initiative during the 61st yearly meeting of the Council of Governors of the Inter-American Development Bank.

“We must not give up the versatility, innovation, and investment capacity of the private enterprise, which will be key to executing projects,” Bolsonaro said.

The initiative aims to support inclusive and sustainable economic activities for the region and will include a fund for projects. Investment attraction takes place under the Letícia Pact for the Amazon, a document signed in 2019 by presidents of countries in the region and lists a series of measures to be adopted in tackling deforestation and wildfires in the area.

The creation of the fund was proposed to the bank by the Brazilian government in 2019, Bolsonaro noted, with a focus on the efficiency of its projects and the transparency of expenditures. “With little international resources available to developing countries, we need to make sure projects financed by the fund yield positive and concrete results, with no delays, waste, or misappropriation,” the president said.

Sustainable development and the end of illegal deforestation, the president stated, hinge on the value ascribed to the economy in the Amazon and the improvement of the quality of life of the local population, including “the creation of jobs, products, and services that use the forest’s resources in a sustainable manner.”

Bolsonaro also expressed optimism about interactions between the bank’s fund and the Amazon Cooperation Treaty Organization, “The [treaty’s] knowledge on the region has been hoarded over decades. It is fully comprised of Amazon countries and firmly committed to its sustainable development and environmental preservation,” he declared.

The annual meeting of the Inter-American Development Bank takes place from March 17 through 21 online, and is based on Barranquilla, Colombia.