UK Commits Additional €35 Million to Brazil’s Amazon Fund

(Bloomberg) -- The UK committed an additional €35 million ($38.1 million) to Brazil’s Amazon Fund, an international conservation initiative aimed at ending deforestation in the world’s largest rainforest by 2030.

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The UK will also transfer €80 million to Brazil’s development bank, BNDES, fulfilling a commitment made in May by Prime Minister Rishi Sunak when President Luiz Inacio Lula da Silva was visiting London, according to a statement Saturday at the COP28 conference in Dubai.

Read more: UK Commits $100 Million to Brazil’s Amazon Fund, Joining US

The Amazon Fund halted operations in 2019 when Germany and Norway froze contributions in response to former President Jair Bolsonaro’s environmental policies. It resumed upon Lula’s inauguration in January, and has become a focus of the leftist leader’s efforts to put climate change and environmental protection at the center of his global agenda.

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