The President of the United States promises a US$500 million fund to stop deforestation in the Amazon

() — The president of the United States, Joe Biden, promised this Thursday an investment of US$ 500 million to the Amazon Fund, an amount that would make the country one of the largest donors in the world to the international conservation program to protect the Amazon rainforest from deforestation. .

“Today, I am pleased to announce that I will apply for the funds so that we can contribute $500 million to the Amazon Fund and other climate-related activities over the next five years to support Brazil’s renewed effort to end deforestation by 2030,” Biden said during a virtual meeting of the Large Economies Forum on Energy and Climate.

The Amazon Fund uses foreign funds for projects that combat deforestation and preserve the environment in the Amazon, and was created in Brazil during the previous term of President Luiz Inácio Lula da Silva. Major donors include Norway and Germany.

During the presidency of former Brazilian leader Jair Bolsonaro, the fund remained intact while the then Environment Minister, Ricardo Salles, dissolved the committees in charge of managing the resource.

Lula has touted curbing deforestation in the Amazon as one of his top priorities since resuming Brazil’s presidency earlier this year.

Biden also pledged a $1 billion contribution to the Green Climate Fund, which is the United Nations’ main climate financing mechanism.

“We are in a moment of great danger but also of great possibilities, of serious possibilities. With the right commitment and follow through from every nation in this room, on this call, the goal of limiting warming to 1.5 degrees (Celsius) can remain within reach,” Biden added.

The Biden Petro meeting

The announcement comes the same day Biden welcomed Colombian President Gustavo Petro to the White House, saying he considers Colombia a “key hemisphere” partner, in an effort to ensure the Western Hemisphere is “united , egalitarian, democratic and economically prosperous”.

In Thursday’s Oval Office meeting with Petro, Biden also spoke about efforts to combat drug trafficking in the region and “to address the historic levels of migration in the hemisphere.”

Biden promoted the investment of US$ 500 million to the Amazon Fund as part of the efforts of the two nations to face climate change.

And he took special care to thank Petro “for the hospitable support that Colombia continues to provide to Venezuelan refugees.”

“It is something humanitarian and generous what they are doing,” he added. “They know that we are working closely with regional partners to help Columbia meet this challenge. It is consequential and expensive”.

Colombian President Gustavo Petro during a meeting with US President Joe Biden at the White House on April 20, 2023. (Credit: Susan Walsh/AP)

Petro noted that the United States and Colombia have a shared commitment to democracy, freedom and peace along with a strong drive to decarbonize the economy.

“In America, humanity has the greatest potential for democracy and freedom and the greatest potential for carbon-free energy. We have a busy schedule together and work to do,” Petro said.

Petro is in Washington as part of a five-day trip to the US to celebrate the 200th anniversary of US-Colombia relations.

He held talks at the United Nations and the Organization of American States and visited the Capitol to meet with congressmen from the Senate Foreign Relations Committee.