Feb 5, 2015

• Managed by the BNDES, the fund currently supports 69 projects focused on combating deforestation and promoting the sustainable use of the forest

The Brazilian Development Bank (BNDES) has surpassed the milestone of R$ 1 billion in operations approved to receive resources from the Amazon Fund. The milestone was reached on December 2014 and corresponds to a sum approved since 2009, when the Fund first started its activities.

Altogether, some 69 projects to combat deforestation and foster the sustainable use of forest resources are receiving supported with the total amount of R$ 1.04 billion from the Amazon Fund, considered one of the world’s most important and current initiatives in reducing emissions from deforestation and forest degradation (REDD).

Support covers deforestation control and monitoring systems, with approvals of R$ 495 million (48% of the total) and sustainable production activity development projects focused on keeping the forest intact, which accounts for 26% of the sum approved. Remaining resources are earmarked for territorial planning (12%) and technological development (14%) projects.

Of the 69 projects approved, some 31 were proposed by the third sector, 21 by the Amazon states, seven by cities, six by universities, three by the federal government and an international project presented by the Amazon Cooperation Treaty Organization (ACTO), including countries from the PanAmazon.

Four projects focus exclusively on support for indigenous communities, in the total amount of R$ 66 million from the Amazon Fund. The main efforts seek to develop sustainable production activities and protect indigenous communities against groups involved in predatory efforts in the forest.

Another highlight is the allocation of R$ 200 million to 13 implementation projects of the Rural Environmental Registration (CAR), an important instrument to environmentally regularize properties.

The Fund also provided support for investments from INPE (National Institute of Spatial Research) to environmental monitor the Amazon biome via satellites, valued at R$ 67 million.

Approvals already handed down by the Amazon Fund are part of a portfolio comprised of 94 projects, totaling  R$ 1.7 billion, all at different analysis phases. The amount is nearly equal to the total amount of resources already donated – the Fund’s income source – currently at R$ 2 billion.

The largest portion, some 97%, comes from donation agreements signed between the BNDES and the Norwegian government. Other donators include the German development bank (KfW) and Brazil’s own Petrobras. The Amazon Fund offers support to projects by means of non-reimbursable resources.