Pará state secures IDB support for program to cut greenhouse emissions

Brazil’s Pará state secured support from the IDB for initiatives that are part of a program to reduce greenhouse gas emissions.

At a meeting, the parties discussed the bank's support for structuring several projects in state capital Belém ahead of the UN's COP 30 climate conference, which Belém will host in November 2025.

"At the meeting, the IDB's support for accelerating the implementation of the program was defined, which consists of a public policy-based loan (PBL) of around US$300 million from the IDB, announced at COP 28 in Dubai last year," the state government said in a statement.

"The focus is on accelerating structural reforms of progressive public policies for Pará's transition, by the year 2050, to zero net emissions of polluting gases, the so-called greenhouse gases," it added, underlining that investments in connectivity for COP 30 and support for the implementation of the Amazon bioeconomy and innovation park were also discussed.

“We will try to find resources soon. For us, it’s very important to contribute to this initiative so that it has repercussions not only here, but in Brazil and the world, and we’re happy to being able to support Pará for COP 30 and in the environmental area,” said IDB president Ilan Goldfajn.