News Contact Us

Brazil seeks USD 1 billion in foreign aid to lower Amazon deforestation

Author : Pankaj Singh | Published Date : 2021-04-05 
  • Reportedly, one third of the foreign aid would be used directly to counter deforestation.
  • Brazil has been significantly criticized for failing to minimize deforestation in the Amazon.

Brazil’s Environment Minister Ricardo Salles is reportedly seeking around USD 1 billion in foreign from countries including the United States, to curb the deforestation rates in Amazon by 40%.

According to Salles, the country would be able to effectively fight deforestation in the world’s largest rainforests if adequate resources were available. He added that approximately one-third of the foreign aid would be used directly to counter deforestation.

The remaining funds would likely be used for Brazil’s economic development, offering locals who have benefitted from Amazon’s resources alternative opportunities. Salles confirmed that he is seeking foreign aid from the United States as well as Norway.

It is worth mentioning that Brazil has been significantly criticized for failing to minimize deforestation in the Amazon.

President Jair Bolsonaro, on the other hand, intends to exploit the economic resources of the rainforest instead of protecting it. The far-right President has also allotted troops to handle any concerning issues with little success, cited sources close to the matter.

Although the focus is currently on reducing Amazon’s deforestation rates, the military would continue to be in charge. In this context, Salles stated that it is relatively cheaper to pay off the daily wages as compared to hiring full-time staff at the environmental agency in Ibama (Brazilian Institute of the Environment and Renewable Natural Resources).

Sources confirmed that Ibama’s environmental agency has suffered substantial budget cuts under the administration of President Bolsonaro.

If failed to receive the apparent foreign aid, Salles added that Brazil will continue to do the best with the prevailing resources, although there is no assurance if the deforestation rates would be lowered.

Source Credits –


About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

Related News

Razorpay secures USD 160 million during GIC-led Series E funding round

Published Date: 2021-04-19         Author: Pankaj Singh

Razorpay, an Indian financial technology startup, has reportedly raised USD 160 million during its Series E funding round, tripling the six-year-old fintech firm’s valuation to USD 3 billion within six months as it prepares to expand its services in Southeast Asia. The latest round was led ... Read More

Facebook set to purchase renewable energy in India in its first deal signing

Published Date: 2021-04-16         Author: Pankaj Singh

Facebook has reportedly signed a deal to purchase renewable energy in India from the wind power project of a local firm. This will be the social media giant’s first such deal in the nation, as said by the companies on Thursday. The wind power project, located in south Karnataka, generates o... Read More

Credflow bags USD 2.1 billion through seed funding, eyes expansion

Published Date: 2021-04-15         Author: Pankaj Singh

CredFlow, a Delhi-based fintech startup has reportedly secured USD 2.1 billion during a seed funding round which was led by Stellaris Venture Partners, Flourish Ventures, and Omdiyar Network India. As per official announcements, CredFlow plans to use the freshly raised capital for strengthening i... Read More

© 2021 Fractovia. All Rights Reserved