Canada has pledged up to C$560 million ($392.5 million) over four years to the Brazilian-led Tropical Forests Forever Facility, the Canadian government said in a statement on Sunday.
Canadian Prime Minister Mark Carney announced the commitment during a meeting with Brazilian President Luiz Inacio Lula da Silva on the sidelines of the Association of Southeast Asian Nations summit in Manila.
Canada said the contribution would help the fund to reach fundraising targets needed to begin operations and attract further public and private investment.
The commitment is part of Canada’s broader pledge to provide more than C$13 billion in international climate finance to developing countries by 2031, the statement said.
The Tropical Forests Forever Facility, launched at the COP30 climate summit in Brazil last year, aims to grow to $125 billion, with about $100 billion in investments from the private sector.
Carney and Lula also discussed cooperation in trade, critical minerals, energy, and defense, the statement said.
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