Ministry of Agriculture, the Bank of Brazil and the World Bank agree on a green initiative
The initiative aims to support the world’s largest sustainable food production programme
Brazil’s Minister of Agriculture and Livestock, Carlos Favaro, met with representatives of the Bank of Brazil on 23 August to discuss the partnership with the World Bank, as reported by Brasil 247, a partner of TV BRICS.
The aim of this cooperation is to attract investment in environmental resources. The initiative aims to support the largest sustainable food production programme on the planet, developed by the Ministry of Agriculture and Livestock (MAPA) with a focus on intensifying production without deforestation.
As part of the cooperation, the resources received will be transferred to Brazilian cooperatives and producers. Everything will take place strictly according to the criteria specified in the ministry’s programme, which focuses on both soil restoration and carbon sequestration.
This proposal opens up opportunities for Brazil to significantly expand its production area. By converting up to 40 million hectares of low-productivity pasture recognised as suitable for agriculture, the country has the opportunity to double its production potential. This expansion will be done without impacting protected areas, with a commitment to prevent deforestation. A priority will be given to practices that help reduce carbon emissions into the atmosphere.
This year, the Brazilian government has sought to incentivise low-carbon agriculture through financing at lower rates. The government’s efforts continue to provide the sector with the conditions to maintain high growth rates.