Brazil has secured a US$247 million investment plan for reforestation and sustainable development, approved by the CIF. The plan includes funding from the CIF, Climate Fund, and World Bank, aimed at supporting eco-friendly projects. It is expected to restore 54,000 hectares of forests, reduce CO2 emissions, and create jobs. An implementation plan is to be developed over 18 months.
Brazil has been granted approval for a significant investment plan worth US$247 million aimed at advancing reforestation efforts and promoting sustainable development. This initiative, endorsed by the Climate Investment Funds (CIF), focuses on financing restoration projects in key regions, namely the Amazon and Cerrado, as reported by the Brazilian Government’s official website.
The funding comprises contributions from various sources: US$47 million from the CIF, US$100 million from the Climate Fund via the National Bank for Economic and Social Development (BNDES), and another US$100 million from the World Bank. This capital will primarily support the private sector in undertaking rehabilitation projects and establishing sustainable production chains.
The Nature, People and Climate (NPC) Investment Plan for Brazil aims to enhance nature-based solutions that address climate change, restore vital ecosystems, and bolster the resilience of rural communities. It is anticipated that this plan will facilitate the restoration of approximately 54,000 hectares of forest, lead to a reduction of CO2 emissions by 7.75 million tonnes, and create around 21,000 direct and indirect job opportunities.
Brazil now faces an 18-month timeline to formulate a comprehensive implementation plan that will outline the specific projects intended for development under the NPC.
The approval of the US$247 million investment plan marks a significant step towards reforestation and sustainable development in Brazil. With substantial financial backing from multiple international sources, this initiative is poised to restore vast areas of forest while enhancing rural livelihoods. The forthcoming 18 months will be crucial for detailing the implementation strategies necessary for achieving the envisioned environmental and social outcomes.
Original Source: tvbrics.com
