BNDES seeks financing for reforestation projects in Pará in Brazil

08/28/2024 Since 3 months

The National Bank for Economic and Social Development (BNDES) has approved financing to the Mombak startup for a sum in local currency equivalent to nearly 30 million dollars for reforestation projects with native vegetation in municipalities in the State of Pará and for recovering degraded areas of the Amazon known as “Deforestation Arch”.

The reforestation initiative will allow the generation of carbon credits for the international voluntary market, in line with the UN’s Sustainable Development Objectives # 13 (Climate Action) and # 15 (Life on Land).

Mombak is a Brazilian startup founded in 2021 and dedicated to large-scale carbon removal projects, having raised investments for a total of more than 200 million dollars.

https://agenciadenoticias.bndes.gov.br/detalhe/noticia/BNDES-aprova-R$-160-milhoes-para-reflorestamento-da-Mombak-no-Arco-da-Restauracao/

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