Development banks launch Green Coalition for Amazonia

Development banks from Amazon Basin countries today launched the Green Coalition, a pioneering international partnership mobilized by the Inter-American Development Bank (IDB) and Brazil's National Bank for Economic and Social Development (BNDES) to implement collaborative, synergistic and complementary sustainable development initiatives with unprecedented scale and impact for the Amazon region and that take into account local and regional characteristics. The IDB and BNDES participation in the Green Coalition is part of their long-term strategies for sustainable development in general and to support the Amazon region in particular, highlighting the IDB's Amazon Forever program, while on the BNDES side, initiatives such as the Amazon Fund, Living Forest and Mixed Financing call for Amazon Forest Bioeconomy, decarbonization programs for clean energy production in the region and structuring of investment projects in forest concessions that promote local development. This launch is part of the Fourth Summit of Amazonian Countries held in Belem de Para of the Amazon Cooperation Treaty Organization (ACTO).