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US President Joe Biden announced on Thursday that he intends to invest $500 million in the Amazon Fund over the next five years, during the Virtual Major Economies Forum on Climate and Energy, in which Brazil participates.
A senior US government official told Reuters that Biden’s team would have to work with Congress to secure this intended funding for Brazil’s environmental protection initiative, reactivated by President Luiz Inácio Lula da Silva’s government this year.
“Today I am pleased to announce that I will request the funds so that we can contribute $500 million to the Amazon Fund and related activities over the next five years to support Brazil to eliminate deforestation by 2030,” the American spoke.
According to a document released this morning by the White House, the contribution is being made in light of Brazil’s “renewed commitment to end deforestation.”
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