Good morning! The pension reform bill could finally be voted on by a House Special Committee. The possible end of the Amazon Fund. The federal budget facing another round of cuts. Brazil’s new commodity to China. And more.
Amazon Fund under threat
Brazil’s Environment Minister Ricardo Salles met with diplomats from Norway and Germany to discuss the Amazon Fund. The two countries are the main donors of the fund created to foster anti-deforestation initiatives, and they wanted to discuss the standoff created by the Brazilian government’s decision to change how the fund is run—a stalemate that could mean the end of the fund altogether.
The rift started in May, after Mr. Salles said he wanted to use part of the fund to compensate landowners in conservation areas—which both Norway and Germany oppose. Plus, the government recently cut several decision-making boards in the federal administration, and the committee to decide how Amazon Fund resources will be spent was given the ax. Mr. Salles wants to take control of it himself.
The Amazon Fund is the largest project of international cooperation to save the rainforest. In 10 years, it has received USD 1.3bn in donations from Norway and Germany. The money is...