Germany pledges €18 million to Amazon fund

The Associated Press
Published: December 18, 2008

BERLIN: Germany is pledging €18 million ($24.5 million) to a fund set up by Brazil to help protect the Amazon rain forest and combat global warming.
The Development Ministry says Thursday's announcement underlines Germany's support for Brazil's program to prevent deforestation.
Brazil created the fund in August. Officials hope it eventually will raise $21 billion to protect nature reserves, persuade loggers and farmers to stop destroying trees and finance scientific and technological projects.
Logging and burning in the Amazon releases an estimated 400 million tons of carbon dioxide into the atmosphere every year, accounting for up to 80 percent of Brazil's greenhouse gas emissions.