Brazil’s Amazon Fund raised $640 million in donations for rainforest in 2023
![Brazil's Amazon Fund raised $640 million in donations for rainforest in 2023](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/02/spectacular-drone-view-soil-ground-surrounded-by-lush-green-trees-growing-forest-daytime.jpg)
Amazon Fund, in 2023, which focuses on developing the rainforest sustainably, received $640 million in new pledged donations from developed countries, Tereza Campello, environmental director at National Development Bank said on Thursday.
Out of this amount, the Biden Administration pledged $500 million over five years, which is pending approval from the US Congress.
Other contributors include Britain, Denmark, and the European Union. Norway, the initial donor with $1.2 billion, and Germany also added more funding last year.
The Amazon Fund was established in 2008 with the goal of collecting donations to support non-repayable investments in Brazil.
These funds are intended to help prevent, monitor and fight against deforestation while also encouraging the preservation and sustainable use of the Amazon forest.
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