The Forest Fund (TFFF), launched by Brazil to mobilize financial incentives for tropical forest conservation, should exceed US$10 billion raised during Brazil’s presidency of the 30th session of the Conference of the Parties, which runs until December 2026, Finance Minister Fernando Haddad said on Monday.
– I think we will exceed $10 billion during Brazil’s presidency. “I think Brazil can still be surprised and strive to achieve more, because the Netherlands, the United Arab Emirates and China have also expressed their support for the fund,” the minister said in an interview with CNN Brasil.
There are high expectations from the Brazilian government regarding the collection of the fund, which has set a specific target of US$10 billion. Last Thursday, Norway announced an investment worth US$3 billion, and Brazil received a total of US$5.5 billion.
President Luiz Inacio Lula da Silva is expected to hold a bilateral meeting with German Chancellor Friedrich Merz to discuss investment in the fund. The Brazilian government expects Germany to follow Norway’s example. However, as revealed by GLOBO, European sources claim that this prediction may be foiled.
On the other hand, the Finance Minister believes that the European country should announce the investment by the end of the year.
– Germany will not be shy about helping the Forest Fund, and I estimate that by the end of this year, Germany will announce this, especially since we are about to finalize the Mercosur and European Union agreement, after long negotiations, which is also good news for the world – Haddad said in an interview on Monday.
In response to a question about the base interest rate set by the Central Bank at 15% annually, which is the highest level recorded in the historical series, Haddad said that there is room to reduce the price. According to him, this opinion is shared by representatives of banks.
This opinion is also supported by the banks that met with me this morning, that the interest rate has room to reduce. It is not a personal issue, it is an institutional issue. People express their opinions, the market expresses its opinions, the productive sector, the political class, the analysts, but British Columbia decides.
Haddad met Monday morning with the Brazilian Banking Association (February).
— Some of these players agree that the time for a cycle of cuts (in interest rates) has already arrived. Haddad said: No one should feel distressed by honest discussion about these issues.
As Globo has shown, the front ranks of Lula’s government have increased pressure on British Columbia’s president, Gabriel Gallipolo, who was appointed by Lula, to lower the interest rate. At its last meeting, the Monetary Policy Committee (COPOM) decided to maintain the Selic level at 15%, and indicated the necessity of maintaining the base rate at this level for a long period of time.
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