AMSTERDAM, Oct 26 (Reuters) – The Dutch government said on Monday it would contribute up to $500 million over the next decade to an international fund to help protect tropical forests.
The money will help set up the Tropical Forest Forever Facility, a new public-private wealth fund which aims to reward countries for preserving tropical forests.
• The fund aims to grow to $125 billion, with around $100 billion in investments from the private sector
• The fund’s net proceeds will be used to structurally reward countries that actively work to preserve forests
• The indicative reward is expected to be around $4 per year per hectare, with checks on preservation made through satellite images
• The fund expects to be able to help save up to 900 million hectares of tropical forests, the Dutch government said
• The Netherlands said it had joined a coalition of countries including Brazil, Indonesia, Britain, Norway, France and Germany that has already pledged contributions.
• The fund will be developed by the World Bank and is expected to be operational by mid-2027
(Reporting by Bart Meijer, Editing by Timothy Heritage)
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