The new Brazilian Minister of the
Environment has plans to use credit lines for Economic and Social
Development (BNDES) to modernize and increase efficiency of production
activities in the Amazon, said Portal Moveleiro.
The production of
timber and vegetable oil products were identified as priorities under
the initiative. The investments will help modernize the production
process by reducing waste during logging and log processing, since it
is believed only three of every 10 logs eventually get to market. The
requested credit line from BNDES would be used to update machinery and
equipment to spur innovation in these two areas of production. The
Ministry plans to use public finance to purchase new machines, conduct
worker training programs and introduce capacity building programs for
entrepreneurs.
The Environment Ministry also announced the creation of an
international voluntary fund for the preservation of the Amazon, which
would be established through a Presidential Decree. The fund already
has USD100 million in donations from the government of Norway.
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