The Inter – American Development Bank (IDB) will provide Brazil with a funding to support sustainable farming methods in the states critical to country’s biomass.
As part of the initiative, the grants provided through the funding will encourage small and medium-sized farmers to undertake projects that result in low carbon emissions and forest restoration.
The sustainable farming methods will be employed in the Amazon region, including Mato Grosso, Pará and Rondônia along with four areas in the Atlantic Forest region - Bahia, Minas Gerais, Paraná and Rio Grande do Sul.
The four-year initiative will be supported by a $39.2m grant from the United Kingdom's Department for Environment, Food and Rural Affairs through the UK's International Climate Fund to invest in low carbon agriculture and forest conservation, while IDB will administer the grant and the project.
The Agriculture, Livestock and Food Supply Ministry in Brazil will benefit from the project.
Commenting on the funding IDB team leader Simone Bauch said that the project is a major milestone for the bank as it focuses on strategic areas for climate change.
Brazil Agriculture Ministry Environmental Sustainability coordinator Renato Brito said, "This project is a pilot to the strategic development on the Brazilian agriculture. This investment on deforestation combat through the sustainable agriculture is a cooperation between Brazil and the United Kingdom."
