Minister of Agriculture highlights Degraded Land Recovery Program at AIIB meeting

On Friday (7), Minister of Agriculture and Livestock Carlos Fávaro attended a meeting at the Asian Infrastructure Investment Bank (AIIB) in China, alongside Vice President and Minister of Development, Industry, Trade, and Services Geraldo Alckmin, who led the mission. The discussions focused on cooperation, climate financing, and meetings with business leaders. 

During the meeting, Minister Fávaro introduced the National Program for the Conversion of Degraded Areas into Sustainable Agricultural and Forestry Production Systems. This Brazilian initiative aims to enhance global food and nutritional security and combat climate change by attracting international support. 

“We have identified 40 million hectares in Brazil with immense potential. These degraded areas require investment to improve the soil, which will significantly increase Brazil’s productive land. The program is entirely focused on sustainability, primarily combating deforestation. With this program, there will be no need to expand production areas into forests,” Fávaro explained. “We invite you to learn more about this project,” he added. 

Additionally, during the meeting, the National Bank for Economic and Social Development (BNDES) signed contracts and letters of intent with the China Development Bank (CDB) and the AIIB, totaling approximately R$ 9.1 billion for financing sustainable projects. 

Alckmin met with AIIB President Jin Liqun, and both committed to enhancing collaborations and partnerships, particularly to accelerate and expand actions against climate change. 

“I would like to emphasize how important it is to have access to financing, such as that facilitated by the AIIB, to address climate change,” Alckmin said. “Previously, wind and solar energy infrastructure was expensive. Today, both are the cheapest sources of energy in Brazil. We need to increase financing to make currently expensive solutions more viable and competitive, thereby helping the planet,” the Vice President highlighted. 

“We express our enthusiasm for a deeper partnership between Brazil and the AIIB. Just as Brazil’s remarkable abundance of renewable energy resources powers the country, there is much more potential for growth between us. Both Brazil and the AIIB are united in our vision of sustainable development,” said AIIB President Jin Liqun. 

*With information from the Ministry of Development, Industry, Trade, and Services*

Press information
imprensa@agro.gov.br