BRAZIL TO RECEIVE BILLION DOLLAR PAYMENT FROM NORWAY FOR DEFORESTATION REDUCTION
Norway announced that it will pay Brazil’s Amazon Fund $1 billion USD by the end of the year. This payment fulfills a pledge that Norway made to Brazil in 2008 to compensate deforestation reduction. Norway made another $1 billion USD pledge to Indonesia in 2008, but Indonesia’s efforts have fallen short. Brazil’s accomplishments were commended by the Norwegian Minister of Climate and Environment, as well as by U.N. Secretary General Ban Ki-moon.