IDB teams up with Germany, Netherlands to protect the Amazon
Glasgow, United Kingdom, Nov 2 (EFE).- Representatives of the Inter-American Development Bank on Tuesday announced a joint project with Germany and the Netherlands aimed at protecting Amazon forests and land, in a deal hammered out on the sidelines of the COP26 climate summit in Glasgow.
According to the IDB, the two European nations have pledged 15 million euros ($17.4 million) each to a new Bioeconomy and Forest Management fund.
The project centers on promoting the rights and management capacity of indigenous populations and local communities in the Amazon, a line of action favored at COP26 as a way of improving the conservation of natural habitats.
“The Amazon region is essential for a sustainable recovery in Latin America and the Caribbean. We are proud to have reached this agreement with countries that have extensive experience in climate action,” IDB President Mauricio Claver-Carone said.
“This initiative will benefit ‘bio-businesses’, families and small farmers through sustainable development models based on human capital, natural wealth and cultural heritage of this incomparable region,” the IDB chief said.
The Amazon is the source of between 35% and 40% of fresh water in Latin America and is an essential habitat for ecosystems around the world since it regulates air quality and stores carbon emissions, the IDB noted.
The project is included within a broader vision of the IDB to promote sustainable development in the Amazon.
Also participating in the initiative is IDB Invest, the investment arm of the development bank that works with the private sector, as well as other IDB departments. EFE