Launched in August 2008, the Amazon Fund was developed to tackle illegal deforestation and promote sustainable forest use. This Fund centers on reducing greenhouse gas emissions caused by deforestation in the Amazon, and follows the principles approved on REDD in international climate talks.

Brazilian governments (federal, state and municipalities), scientific institutions and NGOs are eligible for grants from the Fund. As of October 2011, the Amazon Fund approved around US$ 120 million in financial support for 20 projects carried by civil society organizations, state and municipal government agencies. 

There are eight priority areas for the use of resources from the Amazon Fund:

• Management of public forests and protected areas.
• Sustainable forest management.
• Economic activities developed from the sustainable use of forests.
• Ecological and economic zoning, territorial ordinance and land regularization.
• Conservation and sustainable use of biodiversity.
• Restoration of deforested lands.

In 2008, Norway was the first country to commit a donation to the Fund, amounting to US$ 1 billion to be provided incrementally until 2015.

Germany has also made a pledge of EUR $21 million. Last October, Brazilian energy company Petrobras announced a US$ 4.2 million donation to the Fund.

Source:
Climate Change in Brazil: Key Facts and Figures