Brazil has secured a $247 million investment plan to promote reforestation and sustainable development in the Amazon and Cerrado. The plan, approved by the Climate Investment Funds, will finance projects to restore ecosystems and address climate change, projecting the restoration of 54,000 hectares and creating jobs.
Brazil has officially secured a $247 million investment plan to enhance reforestation efforts and support sustainable development initiatives in the Amazon and Cerrado regions. This funding, approved by the Climate Investment Funds (CIF), will primarily focus on financing restoration projects and promoting nature-based solutions, as stated on the Brazilian Government’s official website.
The investment comprises contributions from multiple sources: $47 million from CIF, $100 million from the Climate Fund via the National Bank for Economic and Social Development (BNDES), and an additional $100 million from the World Bank. These funds will be directed towards the private sector to facilitate rehabilitation projects and the establishment of sustainable production chains.
The Nature, People and Climate (NPC) Investment Plan seeks to harness nature-based solutions for combatting climate change, restoring ecosystems, and enhancing the resilience of rural communities. This plan is expected to restore approximately 54,000 hectares of forests, mitigate CO2 emissions by 7.75 million tonnes, and generate between 17,000 to 21,000 jobs, both directly and indirectly, as reported by TV BRICS.
Brazil is now tasked with developing a comprehensive implementation plan within the next 18 months. This plan will outline the specific projects that will be executed under the NPC framework to achieve the stated objectives.
Brazil’s recent acquisition of $247 million for reforestation and sustainable development marks a significant commitment to environmental stewardship. With investments allocated from multiple financial entities, the plan will enable extensive ecosystem restoration while promoting economic resilience in rural areas. This endeavor not only aims to combat climate change but also seeks to foster job creation and sustainable practices in the region.
Original Source: www.dailynewsegypt.com
