The Amazon Fund has received donations from foreign governments and companies (see table below) and is also preparing to receive donations from multilateral institutions, non-governmental organizations and individuals.
Fundraising for the Amazon Fund is linked to the reduction of emissions of greenhouse gases from deforestation, that is, it is conditioned to the reduction of the annual deforestation rate.
Based on data of emission reductions calculated by the Ministry of the Environment and attested by the Technical Committee of the Amazon Fund (CTFA, in Portuguese), BNDES is authorized to raise donations for the Amazon Fund and to issue certificates recognizing the contribution of the donors to the Fund.
Each certificate identifies the donator and the amount of the contribution to the effort to reduce carbon dioxide emissions. These certificates are nominal, non-transferable and do not generate rights or credit of any nature.
See below a summary of the donation agreements of Norway´s Government, Petrobras and the Federal Republic of Germany (KfW).
Government of Norway
BNDES celebrated on March 25, 2009, a Donation Agreement with the Ministry of Foreign Affairs of Norway, in which a donation was provided to the Amazon Fund in the amount of up to 700 million norwegian kroner.
The Donation Agreement establishes the terms and procedures applicable to the donations from Norway related to the Amazon Fund. Subsequently, additional terms to the donation agreement were signed in which the government of Norway committed to making additional donations for 2010 and 2011.
Summary of the agreement
The amount of funding is linked to the reduction of gas emissions from deforestation and forest degradation and covers only support for projects to be financed by the Fund in the 2009-2015 period. Donations after 2009 will be specified in additional terms proposed by the donor and will depend on the results of the efforts to reduce the annual deforestation rate.
Disbursements by the Norwegian government are made every six months or less, at the request of BNDES, based on the Fund’s financial needs.
BNDES is responsible for analyzing, approving and contracting projects, as well as supervising, monitoring, rendering of accounts and reporting of results. In addition, the Bank must maintain the donations received separate in its accounting books.
Addenda to the Donation Agreement
First Addendum to the Donation Agreement
On November 9, 2009, a first Addendum to the Donation Agreement was signed. The Norwegian government committed to making additional donations of up to 750 million norwegian kroner in 2010 and up to 750 million norwegian kroner in 2011. In addition to these amounts, the possibility of additional donations by the government of Norway was also foreseen for 2010 and 2011.
Second Addendum to the Donation Agreement
On December 16, 2010, a second Addendum was signed. The Norwegian government committed to making additional donations of 100 million norwegian kroner. Thus, the total value of the donation in 2010 went up to 850 million norwegian kroner.
Third Addendum to the Donation Agreement
On December 14, 2011, a third Addendum was signed. The Norwegian government committed to making additional donations of 250 million norwegian kroner. Thus, the total value of the donation in 2011 went up to 1 billion norwegian kroner. It was also defined that the deadline for the request to use the committed funds for the years 2009, 2010 and 2011 will be December 31, 2015.
* Donations will be disbursed in installments conditioned to effective reductions in emissions from deforestation in the Brazilian Amazon
** NOK = Norwegian Kronen
*** Conversion rate on 12.30.2011: Norwegian Kronen 5.9851 = US$ 1.00
Click on the links below to see the certificates recognizing the contribution of the Norwegian government to the effort to reduce carbon dioxide emissions from deforestation.
See also:
Website of Norwegian government in Brazil
Petróleo Brasileiro S.A. - Petrobras
BNDES celebrated on October, 14th, 2011, three Donation Agreements with Petrobras Brasileiro S.A. – Petrobras, in which a donation was provided to the Amazon Fund, as described below. In 2012, a new donation contract was signed by Petrobras and BNDES.
Summary of the agreement
Funds are earmarked exclusively for projects to be funded within the scope of the Amazon Fund according to its rules, conditions, guidelines and criteria.
BNDES is responsible for analyzing, approving and contracting projects, as well as for follow-up, monitoring and accountability. The Bank will maintain proceeds from donations segregated in its books.
Click on the links below to see the certificates recognizing the contribution of Petrobras to the effort to reduce carbon dioxide emissions.
See also:
Website of Petrobras
Federal Republic of Germany - KfW
As authorized by Decree Nº. 6,527/08 and within the scope of the Official Financial Cooperation between the Government of the Federal Republic of Germany and the Government of the Federative Republic of Brazil, on December 7, 2010, was signed a Financial Contribution Contract, as described below, between Kreditanstalt für Wiederaufbau (KfW) and the BNDES (manager of the Amazon Fund). On the same date, details of the contract were also agreed upon by means of a separate agreement.
Summary of the agreement
Total amount: up to EUR 21 million to be granted in accordance with the methodology provided for in the Amazon Fund norms, of which (i) up to EUR 12 million refers to reductions in emissions caused by deforestation in the Amazon in the forest years 2008/2009; and (ii) up to EUR 9 million, to reductions in emissions in the forest years 2009/2010.
Funds are earmarked exclusively for projects to be funded within the scope of the Amazon Fund according to its rules, conditions, guidelines and criteria.
Disbursements by KfW are made at the BNDES’ request, based on the Amazon Fund's financial needs. BNDES is responsible for analyzing, approving and contracting projects, as well as for follow-up, monitoring and accountability, including the publication of an annual report on activities and a meeting with donors. The Bank will maintain proceeds from donations segregated in its books.
* Donations will be disbursed in installments conditioned to effective reductions in emissions from deforestation in the Brazilian Amazon
** Conversion rate on 12.30.2011: US$ 1.2976 = €1.00
Click on the link below to see the certificate recognizing the contribution of the Federal Republic of Germany - KfW to the effort to reduce carbon dioxide emissions.
See also:
Website of the Federal Republic of Germany in Brazil