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Amazon Fund has enough capital to bankroll projects until 2019

Xinhua, September 15, 2015 Adjust font size:

The Amazon Fund, established to preserve the world's largest rainforest, has enough resources to finance new projects until 2019, Brazilian authorities said Monday.

The Amazon Fund was created in 2008 with financial backing from the Norwegian and German governments.

It now has enough capital to bankroll 24 projects until 2019, according to a press conference made in Rio de Janeiro by Brazilian authorities.

Between 2008 and 2014, the Amazon Fund enabled the protection of 14 million hectares of rainforest and the creation of 94 conservation teams.

It also financed the training of 3,100 people to fight against forest fire and supported over 1,200 small projects related to conservation efforts.

At the press conference, it was announced that the Norwegian government had given the Fund the last 100 million U.S. dollars, which were part of the initial commitment of 1 billion U.S. dollars Oslo made at the Fund's creation in 2008.

Since 2008, the Amazon Fund has invested a total of 546 million U.S. dollars. Some 96 percent of the capital was provided by Norway, 3 percent by Germany and 1 percent by Brazil's national oil company, Petrobras.

Brazil's Environment Minister Izabella Teixeira said at the press conference that the country would seek new donors for the Amazon Fund during the UN Climate Change Conference that will take place in Paris in December. Endi