Brazil seeks support for tropical forest preservation fund ...Middle East

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RIO DE JANEIRO: Brazil is gathering support from other countries for the creation of a fund that will send resources to nations with tropical forests in order to preserve them, Finance Ministry officials said at the sidelines of the G20 meeting of finance leaders in Rio de Janeiro.The so-called Tropical Forest Finance Facility will be financed by the governments that join the initiative and will also rely on private funds. Income from investments by the fund will be passed on to countries committed to forest preservation.Finance Ministry official João Paulo de Resende said an initial contribution of $25 billion by the countries is expected, which would allow the fund to leverage $100 billion

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