German Development Minister Gerd Mueller and World Bank president David Malpass created the programme ProGreen for the protection of forests, which hopes to receive around $1 billion in funds.
“The Amazon rainforest alone produces 20 per cent of the world’s oxygen,” Mueller said. “But, every four seconds, a surface the size of a football field is logged – especially for huge soy and palm-oil plantations. Eleven per cent of CO2 emissions can be traced to deforestation. We must stop this immediately,” he said.
Germany is also to pledge a further 30 million euros for the Central African Forest Initiative and 20 million euros to support indigenous peoples.