IDB launches program to fund Amazon development

Finance


The Inter-American Development Bank (IDB) last week launched a program called Amazon Forever, described as “a comprehensive and territorial approach to accelerate the sustainable, inclusive and resilient development of the Amazon region.”

The plan was announced after a meeting in São Paulo by the IDB presidents of Bolivia, Brazil, Colombia, Ecuador, Guyana, Peru and Suriname. The nine countries were added to seven of the nine countries with the Amazon rainforest, Venezuela and French Guiana.

Amazonia Forever is a comprehensive program aimed at increasing financing, sharing knowledge and strengthening collaboration for sustainable development in the Amazon, according to a statement from the IDB. His three-pronged approach includes a platform for mapping the Amazon rainforest and the nation’s financial resources. Creation of a project preparation facility for developing investment plans in Amazonian territory. and the establishment of a network of finance and planning ministers and a technical group to oversee the work of the program with the support of the IDB.

Regional Development Banks have identified projects totaling $1 billion for the Amazon region in 2023 through various financing facilities, and this new program will help expand existing resources and find new sources of funding. I hope.

Priority areas of the program include bioeconomy, local peoples, and sustainable agriculture and forestry through approaches that promote the inclusion of women, indigenous peoples and African descent.

“We must look carefully at all aspects of the Amazon region, with people and nature at the center of our approach. It is an ideal conduit for coordination.It is important for us to increase our cooperation and ambition to maximize effectiveness,” said IDB President Ilan Goldfein.

Brazil’s Minister of Planning, Simone Tebet, signed the declaration on behalf of Brazil as president of the IDB. her foreign policy adviser Diogo Ramos Coelho The meeting of IDB presidents of the Amazon countries has been positioned as part of the government of Luis Inácio Lula da Silva’s efforts to focus on the issue of climate change and to lead regional cooperation towards that end.

In August, Brazil will host an Amazon region summit with all other countries with rainforests (except French Guiana) to fight deforestation, attract investment, protect local and indigenous communities, and promote sustainability. We will discuss a joint approach to promoting development.





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