World Bank Lends Money to Brazilian States in Exchange for Amazon Conservation

El PaĆ­s, Fernanda Wenzel in 27/10/2021

Mato Grosso and Amazonas received a new modality of loans from the World Bank, whose goal is to combine fiscal and environmental sustainability. The contract with the State of Mato Grosso of US$ 250 million (R$ 1.4 billion) was signed in 2019. In Amazonas, the signing of the first of two loans contracts, of US$ 200 million (R$ 1.1 billion) each, should take place in November.

Environmental protection measures were included in the States’ obligations alongside the traditional fiscal adjustment. In order to have access to the agreed resources, Mato Grosso had to approve a new Action Plan for the Prevention and Control of Deforestation and Forest Fires.

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