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Brazil pays off debt with Mercosur infrastructure fund
Overdue payments totaled BRL 500 million
Published on 20/04/2023 - 10:05 By Wellton Máximo – Repórter da Agência Brasil - Brasília
KEY POINTS
President Joe Biden announced plans to boost U.S. funding to slash deforestation in Brazil’s Amazon rainforest and to help developing countries combat climate change during a meeting with world leaders on Thursday.
The president, during a virtual meeting with the Major Economies Forum on Energy and Climate, committed $500 million over five years to reduce deforestation in Brazil. The move would make the U.S. one of the biggest contributors to the Amazon Fund, a conservation program established over a decade ago. However, this investment would require Congressional approval.
Biden also pledged $1 billion to the Green Climate Fund, a United Nations-led program aimed to help developing countries become more resilient to climate change and transition to clean energy sources. The funding would double the country’s overall contribution.
The Biden administration is aiming to cut greenhouse gas emissions in half by 2030 and has urged developed countries to provide international climate assistance to poorer nations. The countries convening at the forum account for roughly 80% of global greenhouse gas emissions and global gross domestic product, the White House said.
More:
https://www.cnbc.com/2023/04/20/biden-pledges-500-million-to-fight-amazon-deforestation.html
