WASHINGTON—The World Bank said Thursday it has approved $1.3 billion for environmental and climate projects in Brazil, focused on fighting deterioration of the Amazon rain forest and renewable energy sources.
The World Bank said its board of directors approved Thursday the 1.3 billion dollar loan to the Brazilian government of President Luiz Inacio Lula da Silva in support of pro-environment efforts.
The program is aimed at “supporting Brazil’s ongoing efforts to improve its environmental management system and integrate sustainability concerns in the development agenda of key sectors such as forest management, water and renewable energy,” the Washington-based development lender said in a statement.
The initiative also was intended to integrate the South American giant’s climate change agenda across sectors, it said.
The loan will be disbursed in two installments: $800 million immediately and $500 million on condition the program meets evaluation criteria through 2010.
“This will promote the sustainable management of agricultural lands, forests and water resources; reduce deforestation in the Amazon; reduce the environmental degradation of land, water and other resources which are key determinants of the well-being of the poor; and promote renewable energy,” the 185-nation institution said.
source: Agence France-Presse
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redambrosia99 Posted 1:56 am
06 Mar 2009
Lol, of course that's assuming they don't have awful conditions attached to the loan and that Brazil doesn't blow the money on something that's more green-washing than green.
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