Brazil has secured a $247 million investment for reforestation and sustainable development in the Amazon and Cerrado. Funded by the CIF, BNDES, and the World Bank, the plan aims to restore 54,000 hectares of forests and create up to 21,000 jobs. Implementation details are to be finalized within 18 months.
Brazil has successfully secured a $247 million investment plan to enhance reforestation and promote sustainable development within the Amazon and Cerrado regions. This initiative, approved by the Climate Investment Funds (CIF), is designed to finance various restoration projects and bolster sustainable practices, as announced on the Brazilian Government’s official website.
The allocation of funds comprises $47 million from the CIF, alongside $100 million secured through the Climate Fund via the National Bank for Economic and Social Development (BNDES), and an additional $100 million from the World Bank. This financial support will primarily be directed to the private sector, facilitating the rehabilitation of ecosystems and the establishment of sustainable production chains.
The Nature, People and Climate (NPC) Investment Plan for Brazil is oriented towards developing nature-based solutions aimed at combating climate change, restoring ecosystems, and enhancing the resilience of rural communities. Key projections suggest that this plan could result in the restoration of 54,000 hectares of forests, a reduction in CO2 emissions by 7.75 million tonnes, and the creation of approximately 21,000 direct and indirect jobs, as reported by TV BRICS.
Brazil is allotted 18 months to formulate a detailed implementation plan that outlines the specific projects to be executed under the NPC framework, thereby setting a robust stage for the sustainable growth of the environment and rural communities in the region.
The recent approval of Brazil’s $247 million investment plan represents a significant step towards reforestation and sustainable development efforts in critical ecosystems. By utilizing funds from multiple sources, including the CIF, BNDES, and the World Bank, the initiative aims to restore vast areas of forest and reduce carbon emissions, while also fostering job creation. The upcoming months will be crucial for detailing the specific projects under this ambitious framework.
Original Source: www.dailynewsegypt.com
