Brazilian Presidents Unveil $1.1 Billion Amazon Investment Announcement

05 Apr, 2024

Brazilian Presidents Unveil $1.1 Billion Amazon Investment Announcement

The Brazilian and French presidents have revealed plans for a significant investment totaling 1 billion euros (USD 1.1 billion) in the Amazon, which will include conservation efforts in French Guiana. Over the next four years, this funding will be utilized to safeguard the rainforest, with contributions from state-run Brazilian banks and France's investment agency, alongside potential private sector involvement.

This joint initiative comes as part of a broader effort to mend relations between the two nations and address environmental concerns following periods of tension under former Brazilian President Jair Bolsonaro.

French President Emmanuel Macron embarked on a visit to Brazil, commencing in Belem, where he engaged with his Brazilian counterpart Luiz Inácio Lula da Silva and Indigenous leaders. Amidst protests by environmental groups, Macron emphasized the global significance of rainforest protection.

Discussions also revolved around trade agreements, with Macron reaffirming opposition to deals with South American bloc Mercosur unless environmental and health standards are met.

The visit culminated in symbolic gestures, including the decoration of Indigenous leader Raoni Metuktire with the Legion of Honor medal. Both leaders vowed to collaborate in combating climate change and poverty, with upcoming events such as the G20 summit and UN climate talks serving as focal points for shared objectives. Macron's itinerary included engagements in Sao Paulo and Brasilia, underscoring the depth of Franco-Brazilian cooperation beyond environmental issues.