MercoPress. South Atlantic News Agency

Denmark to donate over US$ 22 million to Amazon Fund?

Minister Franco issued a joint statement with the Danish government

Brazil's Environment Minister Marina Silva Wednesday said Denmark might donate R$ 110 million (US$ 22.4 million) to the Amazon Fund between 2024 and 2026, in exchange for which the South American country should pledge to fight deforestation, Agência Brasil reported.

 Denmark could thus become the fourth donor to the fund, which currently has resources from Norway, Germany, and state-run oil giant Petrobras. The amount, however, is yet to be approved by the Danish parliament, it was explained.

In a joint statement with the Danish government, the Brazilian Ministry of the Environment said the money should help “finance projects and initiatives that contribute to reducing deforestation, protecting biodiversity, improving the living conditions of local communities and promoting sustainable development in Brazil.”

Denmark’s Minister for Development Cooperation and Global Climate Policy Dan Jørgensen is also reported to have praised Brazil’s recent efforts to restore and sustainably manage forests and combat deforestation.

Data from the Real-Time Deforestation Detection System (Deter) shows a 41% reduction in deforestation in the Legal Amazon region between January and April this year compared to the same period last year.

The Danish minister and Marina Silva also pledged to step up efforts to combat deforestation, desertification, soil degradation, and drought, as well as to restore degraded land. They also agreed that “policies aimed at reducing deforestation should consider social and economic challenges.”

Since 2008, the Amazon Fund has received around US$ 692 MILLION in donations, 93% of which came from the Norwegian government, 5.7% from the German government, and 0.5% from Petrobras.

Created in 2008, the Amazon Fund aims to provide funding for initiatives to reduce deforestation and forest degradation. In all, 102 projects have been financed, 60 of which have been completed, with a total R$ 1.51 billion disbursed.