“The Amazon Fund” is maintained by which financial institution?
A. World Bank
B. IMF
C. New Development Bank
D. Brazilian Development Bank
“The Amazon Fund” is maintained by which financial institution?
The Amazon Fund was created to raise donations for investments in efforts to prevent deforestation in the Brazilian Amazon. The Fund is managed by the Brazilian Development Bank (BNDES), which performs raising and investing funds.
“The Amazon Fund” is maintained by the Brazilian Development Bank (BNDES), not a global financial institution. The fund was created to gather donations to finance projects aimed at preventing, monitoring, and combating deforestation, as well as promoting the conservation and sustainable use of forests in the Amazon region.
The Amazon Fund (in Portuguese: Fundo Amazônia) is an initiative created by the Brazilian Government and managed by the National Bank for Economic and Social Development (BNDES). It was established on 1 August 2008, with the aim of attracting donations for non-reimbursable investments in actions for the prevention, monitoring, and combat of deforestation, and for the promotion of conservation and sustainable use of the Amazon rainforest. Additionally, the fund supports the development of monitoring and control systems for deforestation in the rest of Brazil and in other tropical countries.
The fund is used in various areas, including the management of public forests and protected areas, control, monitoring and environmental enforcement, sustainable forest management, economic activities developed from the sustainable use of the forest, ecological and economic zoning, land planning and regularization, conservation and sustainable use of biodiversity, and the recovery of deforested areas. The projects supported by the fund must be aligned with applicable public policies and the guidelines and criteria, in addition to demonstrating their direct or indirect contribution to the reduction of deforestation and forest degradation. The actions foreseen in the projects must be coherent with the proposed objective, with the budget and with the schedule of its implementation.[6] Eligibility for accessing the Amazon Fund is determined based on compliance with several plans and criteria, including the PPCDAm (Action Plan for Prevention and Control of Deforestation in the Legal Amazon Region), ENREDD+ (National Strategy for REDD+), state plans for preventing and combating deforestation, and BNDES Operational Policies. Projects eligible for funding should directly or indirectly contribute to reducing deforestation in the Amazon. Various types of entities can submit projects for funding, including public administration bodies, NGOs, private companies, cooperatives, and research institutions.
