The World Bank Group approved the US$247 million Brazil: Arc of Restoration Project to expand private-sector-led forest restoration, aiming to recover 68,000 hectares and mitigate 15.4 million tons of carbon dioxide equivalent over two decades.
The financing combines US$47 million from the Climate Investment Funds (CIF-NPC) and US$100 million from the International Bank for Reconstruction and Development (IBRD). An additional US$100 million from the Brazilian Development Bank (BNDES) completes the public financing structure, marking a strategic partnership milestone between the two institutions.
“An important milestone in stablishing a strategic partnership of The World Bank Group with BNDES,” said an official of The World Bank in a post on LinkedIn.
The initiative is expected to mobilize at least US$241 million more in private capital to expand long-term credit for restoration efforts. Project projections estimate the creation of more than 1,900 direct and 6,700 indirect jobs. These employment opportunities target women, local communities, and small and medium-sized enterprises.
Chiliatto thanked board colleagues, partners at BNDES and the Climate Investment Funds, alongside teams including Nelson Barbosa, Cecile Fruman, Jorge Coarasa, Arthur Bragança, Maria Bernadete Lange, Faruk Miguel Liriano, Erwin De Nys, Stefka Slavova, Benoit Bosquet, Vitor G. Cavalcanti, and Bianca Abreu for making the project happen.
| Funding Source / Metric | Amount / Figure |
|---|---|
| CIF-NPC Contribution | US$47 million |
| IBRD Contribution | US$100 million |
| BNDES Contribution | US$100 million |
| Target Private Capital Mobilization | US$241 million |
| Area to be Restored | 68,000 hectares |
| Carbon Mitigated (20 years) | 15.4 million tons of CO₂e |
| Direct Jobs Created | 1,900+ |
| Indirect Jobs Created | 6,700+ |
