Brazil’s Tropical Forest Fund Gains Backers as Haddad Predicts Topping $10 Billion

Overview

• Pledges total about $5.5 billion, including Norway’s $3 billion, Brazil’s $1 billion, Indonesia’s $1 billion, France’s $500 million and Portugal’s $1 million.
• Finance Minister Fernando Haddad says the fund should surpass $10 billion during Brazil’s COP30 presidency and calls the model a new way to pay developing countries to preserve forests.
• The Netherlands, the United Arab Emirates and China have voiced support without disclosing amounts, while Germany and the United Kingdom did not announce contributions at COP30’s start.
• Haddad remains confident Germany will join by year-end, though European sources caution that expectation could be disappointed and Chancellor Friedrich Merz offered no timeline.
• A World Bank–backed secretariat is in place and administrative operations are beginning, but a Norwegian condition requires $10 billion in commitments before the fund can issue debt and disburse at scale; privately, investors are watching for further maturation.