A Green Future or Has Time Run Out?

NewsA Green Future or Has Time Run Out?

In the context of the Inter-American Development Bank (IDB) Assembly held on March 18th, 2021, the Bank president Mauricio Claver-Caron announced the creation of a fund for economic development in the Amazon. The Fund will have 20 million dollars in seed capital, contributed by the IDB, and will receive other contributions, including a 775 million dollar commitment from the United Nations’ Green Climate Fund. The Fund is expected to have a capital of approximately 1 billion dollars.

After the Fund’s creation was announced, there was a discussion with participation from different sectors. These included intergovernmental spokespeople, with participation from the Amazon Cooperation Treaty Organization (ACTO), the Green Climate Fund; the National Development Bank (BNDES) and Santander Bank represented the private sector; with participation from the NGOs Global Environmental Facility (GEF) and the Betty and Gordon Moore Foundation. There was no representation from sub-national governments or communities that inhabit Amazon cities and jungles.

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