PASTURES
Brazil seeks global funding to restore degraded pastures
Brazil doesn't need new pastures. It just has to restore its degraded ones. Photo: MH Matsu/Shutterstock
Brazil’s government held its second Eco Invest auction last month, a program designed to attract private funding for sustainable projects. While the first round targeted a range of green initiatives, the latest explicitly focused on restoring degraded pastureland.
Eleven banks secured slots in the bidding, which was supported by the Inter-American Development Bank and offered BRL 16.5 billion (~USD 3 billion) in public funds as catalytic capital in blended finance structures. The bulk went to state-controlled Banco do Brasil and the National Development Bank (BNDES), while private lenders Bradesco, Itaú and BTG also secured shares.
The Finance Ministry, which oversees Eco Invest, expects the funds to…
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