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World Bank invests in Brazilian sustainability plan
06/03/2009
The World Bank has announced it is to lend Brazil US$1.3 billion towards the cost of developing and implementing a series of sustainable growth measures that will help the economy without harming the country’s biodiversity.
Brazil’s economy relies on natural resources such as its forests and water reserves, but its economy needs to be able to prosper without causing further harm to the environment through unsustainable logging.
The demand for energy is a problem for Brazil and the development of more clean energy plants, using forest waste to create biofuel, will be part of the new measures.
Plans to increase the value of standing forests are another key aspect of Brazil’s future, along with the sustainable management of forests and farming lands.
The World Bank’s country Director for Brazil, Makhtar Diop, says "The social and economic cost of environmental destruction is high. Smooth coordination of policies and procedures within the Brazilian environmental management system, combined with an increased commitment from the financial sector to long-term sustainability, is key to guaranteeing that specific actions and investments in the area can achieve the best possible results.”
The World Bank has made the payments as part of its First Programmatic Development Policy Loan for Sustainable Environmental Management scheme.
Brazil’s economy relies on natural resources such as its forests and water reserves, but its economy needs to be able to prosper without causing further harm to the environment through unsustainable logging.
The demand for energy is a problem for Brazil and the development of more clean energy plants, using forest waste to create biofuel, will be part of the new measures.
Plans to increase the value of standing forests are another key aspect of Brazil’s future, along with the sustainable management of forests and farming lands.
The World Bank’s country Director for Brazil, Makhtar Diop, says "The social and economic cost of environmental destruction is high. Smooth coordination of policies and procedures within the Brazilian environmental management system, combined with an increased commitment from the financial sector to long-term sustainability, is key to guaranteeing that specific actions and investments in the area can achieve the best possible results.”
The World Bank has made the payments as part of its First Programmatic Development Policy Loan for Sustainable Environmental Management scheme.
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