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Amazon Fund to receive US$ 70 million from Norwegian government
Initiative supports projects that reduce deforestation and encourage the sustainable use of natural resources in the Amazon region - Photo: EBC
The biggest Amazon Fund donor, the Norwegian government will allocate US$ 70 million this year to the initiative responsible for supporting projects that reduce deforestation and encourage the sustainable use of resources in the Amazon region. Announced on Tuesday (4), the figure represents a 67% increase compared to the contribution made by the European country in 2017 (US $ 41.8 million).
The increase in the donation made by Norway is a result of the 12% reduction in deforestation rate in the Amazon between August 2016 and July 2017, when compared to the same period the previous year.
Under the fund's rules, the annual donation made by the Norwegian government is defined based on the results reached in the previous year. The reference used for the calculation is the ten-year historical average, adjusted every five years.
Since Norway began supporting the Amazon Fund, the reduction of deforestation in the region has prevented over 4.5 billion tons of CO² emissions. The figure is almost 100 times the total amount of emissions recorded annually by the Nordic country.