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BNDES reaches R$ 1 billion in disbursements from the Amazon Fund

11/06/2018

Results were presented by the Bank to the governments of Norway and Germany, the main donors to the initiative

Between 2004 and 2017, Brazil decreased deforestation by 75%, which enabled the fund to raise more than R$ 3 billion

Proof of concept on blockchain technology completed by BNDES and KfW (German development bank) will increase transparency in disbursements

 

Managed by the Brazilian Development Bank (BNDES), in coordination with the Ministry of Environment, the Amazon Fund reached the milestone of R$ 1 billion in disbursements in October. The data were presented on Wednesday, 31, at the BNDES headquarters in Rio de Janeiro, to representatives of the governments of Norway and Germany, who are the main donors to the initiative (Petrobras is also a donor).

Launched in 2008, the Amazon Fund has a portfolio of 102 projects supported, totaling approximately R$ 1.9 billion, and is considered the main international mechanism for REDD+ results payments (reduction of greenhouse gas emissions from deforestation and forest degradation). Between 2004 and 2017, Brazil guaranteed a 75% decrease in deforestation in the Amazon region, which allowed the raising of more than R$ 3 billion in donations. This reduction is considered one of the main contributions in the world to tackling climate change.

With the support of the fund, 530,000 rural properties have been registered in 12 states, a relevant stage in the agribusiness environmental regularization process, as well as the improvement of the systems for satellite deforestation monitoring in Brazil and other countries of the Amazon region. In addition, the investment in five Military Firefighters Corps’ projects contributed to increase the effectiveness of the fight against forest fires and unauthorized burn clearings.

The Amazon Fund supports 345 small and medium-sized institutions in the production and marketing of sustainable products, such as açai berry, Brazil nut, rubber, cocoa, cassava flour processing, handicrafts, fishing and community tourism, having directly benefited 142,000 people. This support led to the generation of around R$ 122 million in revenues, contributing to the improvement of the life of the local population and conservation of natural resources.

Future - This year BNDES, together with the German development bank Kreditanstalt für Wiederaufbau (KfW), concluded a proof of concept for the use of blockchain technology in Amazon Fund disbursements. Developed initially to support digital currencies, the technology will enable greater control over the flow of financial resources. The next step will be the implementation of a pilot project. If successful, it could be put into widespread use, helping to increase transparency in the application of resources.

Initiatives to foster partnerships with the private sector are also in development, leveraging the fund's potential for positive impact on the structuring of sociobiodiversity productive chains.

More information about the Amazon Fund 

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