agreed by the Technical Committee. BNDES shall manage the fund’s finances, promote the fund’s development, financial management and fund development, manage project selection, contracting, monitoring, and ex-post evaluation, among other activities. The Brazilian Development Bank is also

| Amazon Fund 8IntroductionContext The Amazon Fund is a pioneering initiative to finance actions to Reduce Emissions from Deforestation and Forest Degradation (REDD+). Its concept was presented by Brazil at the Conference of the Parties (COP 13) held in Bali in 2007, under the United Nations

the results of projects financed under the Amazon Fund. 8Evaluations sought to identify the aggregate impacts of the initiatives, generating recommendations and systematizing learning to guide future projects and public policies aimed at territorial management and sustainable production in

Fund Activity Report 2011 37ELIGIBILITY CRITERIA While operating through non-reimbursable funds, the Amazon Fund follows the usual rules adopted for the projects financed by the BNDES.8 Some projects may receive financial applications without requiring repayment. These are investments of a

operation, focusing on the progress of the portfolio, which totals 35 financed projects and R$ 124.7 million in disbursements. In addition to the breakdown of the portfolio (number of projects submitted, total amount requested and the flow of projects at the BNDES), it is possible to see the