Green Coalition can secure R$100 billion for the Amazon, says BNDES president

Financial help

So far, the amount of R$4.5 billion has been announced for credit operations

Brasilia DF) – The president of the National Bank for Economic and Social Development (BNDES), Aloizio Mercadante, stated in a public hearing this Tuesday (31) that the Green Coalition is working with the prospect of reaching a proposal of R$100 billion in special credit for the Amazon. During the debate, held by the Environment Commission (CMA), senators highlighted the land regularization of small and medium-sized producers as one of the most important actions for reducing inequality in the region.

The Pró-Amazônia letter of intent, called the Green Coalition, encompasses efforts to achieve the purposes of the Amazon Summit, held in August, in Belém. The BNDES together with the Inter-American Development Bank (IDB), the Bank Mundial and 19 other financial institutions from Amazonian countries, articulated the initiative to create financing lines aimed at sustainable development in the region. So far, the amount of R$4.5 billion has been announced for credit operations with individual microentrepreneurs and micro, small and medium-sized companies in the region.

“This is a historic moment for the Amazon. This is the moment when the Amazon has to present itself to the world, it has to know that this is an asset for Brazil to attract investments and to demand alternative compensation. And I agree that rich countries have not delivered on what they promised. They had promised US$100 billion and did not deliver. They never delivered. The Amazon Fund itself is very important, it is non-refundable, but it is small. So we need to come up with bold proposals. The Green Coalition’s idea of ​​bringing in the World Bank and IDB is exactly for this. I can’t say this officially because we haven’t closed, we are under construction, all the banks are consulting, but our perspective is to come up with a proposal of R$100 billion in special credit for the Amazon, favored credit for the Amazon ”,

anticipated.

Some of the senators agreed with Mercadante and defended Brazil’s position of demanding a global counterpart due to climate change in view of the role of the Amazon and preservation actions and commitment to a sustainable energy transition.

“I think President Lula embraced the green agenda deeply and definitively, not understanding the green agenda as an environmental, transitional agenda, but an economic agenda. That’s what it’s all about. Obviously no one is going to make an energy transition overnight, not even in five or ten years, I think this is a longer process, but I believe that Brazil is putting itself at the forefront, whether in electric buses or in electric cars that are arriving in the state of Bahia and will reach other states as well”,

reinforced the government leader, senator Jaques Wagner (PT-BA).

*With information from the Federal Senate

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