Norway blocks 30 mn-euro deforestation subsidy to Brazil

Image
AFP Oslo
Last Updated : Aug 16 2019 | 3:35 AM IST

Norway said on Thursday it would halt Amazon protection subsidies worth 30 million Euro to Brazil which it accused of turning its back on the fight against deforestation.

Days after Germany also withdrew money promised for forest protection in Brazil, Norway said the South American nation "broke the agreement" with contributors to the Amazon Fund.

Norway was the single largest donor, giving almost 830 million Euros to the fund since its creation 11 years ago.

"Brazil broke the agreement with Norway and Germany since suspending the board of directors and the technical committee of the Amazon Fund,"

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 16 2019 | 3:35 AM IST

Next Story