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Germany's KfW Group Donates to Amazon Protection Fund in Brazil
2010-12-08 13:44:37.561 GMT
By Stephan Nielsen
Dec. 8 (Bloomberg) -- KfW Group, Germany's state-owned
development bank, will donate 18 million euros ($24 million) to
Brazil's Amazon Fund to help fight deforestation.
The deal was signed with the fund's administrator, the
development bank Banco Nacional de Desenvolvimento Economico e
Social, on the sidelines of climate talks in Cancun, Mexico, the
Brazilian bank known as BNDES said in an e-mailed statement.
Germany became the second country to donate to the fund
after Sweden pledged last year to donate $1 billion through
2015, according to the statement. The fund to date has disbursed
funds to 13 Amazonia forest-protecting projects, BNDES said.
For Related News and Information:
Renewable-energy special report: GREEN <GO>
Most-read alternative energy news: MNI ALTNRG <GO>
--Editor: Randall Hackley
To contact the reporter for this story:
Stephan Nielsen in Sao Paulo at +55 11 3017 4932 or
snielsen8@bloomberg.net
To contact the editor responsible for this story:
Reed Landberg at +44-20-7330-7862 or landberg@bloomberg.net.
