Environment Minister Wants A New Amazon Fund Supported by The Private Sector

In Washington, Salles met with the Inter-American Development Bank, but did not reveal details about the plan


Environment Minister Ricardo Salles announced on Thursday (19) in Washington the plans a new fund for the Amazon supported by the private sector. He had just left a meeting with Luis Alberto Moreno, president of the Inter-American Development Bank (IDB), which should assist in the creation of the fund.

Salles, however, has not provided any details of the proposal, which still only exists on paper. As he spoke to the Brazilian press outside of the bank, he did not say which countries will be part of the fund, what the value will be, nor how the funds would be distributed in the Amazon. Sought by Folha, the IDB also did not provide hard data.

Amazon Watch, Greenpeace and Code Pink Protesters, during the visit of Minister Ricardo Salles - Diogo Bercito/Folhapress

The minister said the fund should unite countries of the Amazon region and the private sector. "It tends to be an instrument for developing the opportunity for bioeconomics in the Amazon," he said. "Going forward, it is turning this excellent idea we were working on into documentation." The idea will be at a forum in Sao Paulo in October and a meeting in the Amazon in November.

While Salles is negotiating a new mechanism for the region, the existing Amazon Fund remains suspended due to conflicts between Brazil and Norway and Germany, the fund's donor countries.

Translated by Kiratiana Freelon

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