Norwegian Minister of Climate and Environment Tine Sundtoft announced in Rio de Janeiro today that Norway will, before the global climate change summit in Paris in December, have fulfilled its 2008-commitment to contribute one billion USD to the Brazilian Amazon Fund in recognition of Brazil’s outstanding results in reducing Amazon deforestation over the last decade.

The Brazilian Development Bank (BNDES) and the New Development Bank of the BRICS signed a memorandum of understanding aimed at strengthening cooperation between the Brazilian bank and the financial institution which comprises Brazil, Russia, India, China and South Africa.

The Brazilian Development Bank (BNDES) disbursed R$ 68.7 billion in the first half of this year. Of that total, the infrastructure sector received R$ 26 billion with a participation of 37.8%, and the electric energy segment was the main beneficiary (R$ 10.5 billion released).

The Brazilian Development Bank (BNDES) entered into a financing agreement with KfW, its German counterpart, in the amount of 265 million euros (approximately R$ 1 billion). The loan was signed within the scope of the Sustainable Urban Development Program, whose purpose is to support innovative and climate-friendly projects. Resources will be earmarked for efficiency and sustainable public transport systems in Brazil’s metropolitan areas to be run by local companies.