However, it is still not clear what part of this amount will be allocated to preserving forests in Brazil
On Thursday (20/4), the President of the United States, Joe Biden, announced his intention to make contributions that could reach the figure of $2 billion to help Brazil contain deforestation in the Amazon region until 2030. The amount could be obtained from three initiatives.
One of them will be a $500 million direct investment in the Amazon Fund. However, the release of this amount depends on the approval of the US Congress.
The US government also intends to join BTG Pactual’s forest restoration initiative, the BTG Restorarion Strategy. The Bank is seeking $1 billion in resources to restore forests in Latin America.
Another US pledge is to contribute US$380 million to the LEAF Alliance. In this case, it is an alliance between the United States, the United Kingdom, and Norway, as well as a group of major companies, to preserve the world’s tropical and subtropical forests.
It is not clear how much will be directed at Brazil alone, nor the time frame for such investments. This morning the White House announced the final $500 million contribution to the Amazon Fund.
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.