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Ireland donates to Brazil's Amazon Fund

The Amazon Fund is managed by Brazil's BNDES

Ireland has joined as the eighth donor to Brazil's Amazon Fund, contributing € 15 million, it was reported Thursday. The fund, managed by Brazil's National Bank for Economic and Social Development (BNDES), supports conservation, monitoring, and sustainable development in the Amazon and has financed 123 projects since 2009. In 2024 alone, R$ 200 million (US$ 34.4 million at the current exchange rate) was allocated, aiding efforts to reduce deforestation, which dropped over 45% compared to 2022. Environment Minister Marina Silva emphasized that Ireland's support recognizes Brazil's achievements in combating deforestation and climate change, while the fund continues to attract international partners committed to sustainability.

The announcement was made Thursday in São Paulo during a meeting between the Silva and the Irish Transport Minister Sean Canney.

“The important support from Ireland represents a recognition of the good results achieved by Brazil in the fight against deforestation and will allow the country to advance even further in this agenda and in tackling climate change,” said Silva.

The Amazon Fund is a financing tool for conservation, monitoring, and sustainable development of the biome and is made up of non-refundable contributions. Since it became operational in 2009, it has received donations from Norway, Germany, the United States, the United Kingdom, Denmark, Switzerland, and Japan. In 2024, it spent R$ 200 million on the fight against deforestation and other environmental crimes.

Between August 2023 and July 2024, the official deforestation rate in the Amazon decreased by 30.63% compared to the previous period, according to the National Institute for Space Research (Inpe). The reduction in the following period was greater and exceeded 45% from 2022. “All this makes a difference because what we want is a new cycle of prosperity, especially in the context of worsening climate change,” Silva went on.

Since it was established, the Amazon Fund has been managed by the BNDES. In the 2023/2024 biennium, the fund, which had been demobilized in the previous administration, was reconstituted and raised about US$ 172.2 million in donations.

According to BNDES President Aloizio Mercadante, the increase in the group of donors is an international recognition of the Brazilian commitment to promoting sustainable development. “The BNDES, as fund manager, will continue to work to expand the positive impacts of this initiative and attract new partners committed to environmental preservation and facing the climate crisis,” he said.

(Source: Agencia Brasil)