Farm Loans that Prevent Deforestation
In August last year Banco Santander Brasil, the Nature Conservancy (TNC) and commodities trader, Bunge, announced the development of a programme to prevent further deforestation in the Cerrado in south central Brazil by making better use of land already cleared.
The savanna is home to 5% of the planet’s animals and plants, according to the World Wide Fund for Nature.
The programme, which hopes to announce sign- ups by the end of 2019, provides long-term loans to farmers willing to commit to farm on cleared land. The programme expects to make available $50 million in loans, 65% of which will be provided by Santander.