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BNDES signs agreements with SFB and IDB for forest concession projects
05/03/2024 Since 4 weeks

The National Bank for Economic and Social Development (BNDES) of Brazil has signed a Technical Cooperation Agreement (ACT) with the Brazilian Forest Service Bank (SFB) and an agreement with the Inter-American Development Bank (IDB). These agreements aim to implement concessions for sustainable use conservation units in different states of Brazil, which include restoration and environmental management as an economic activity.

In the cooperation agreement with the SFB, BNDES will support the concession projects of the Bom Futuro National Forest (in the State of Rondonia), with 17 thousand hectares of accumulated deforestation, and Gleba João Bento (Rondonia and Amazonas), with 55,872 hectares of accumulated deforestation. It will be the first concession project to restore degraded areas with income from the sale of carbon credits or forest products generated from reforestation. BNDES will also support concession projects in other states. The Bank already has an alliance with the State of Amapá and will enter into new alliances for the concession of forests with Amazonas and Pará states.

The agreement between BNDES and IDB aims to support the structuring of collaboration projects in reforestation services and sustainable management of public forests in the Brazilian Amazon. The IDB will allocate 800,000 dollars in non-reimbursable resources from the Green Climate Fund, an international fund administered by the institution.