Norwegian U-turn on authorisation of loan for Brazil’s tropical forest fund
The Norwegian government has backed down in its current effort to seek parliamentary authorisation for a NOK 30 billion (USD 3 billion) loan for Brazil’s Tropical Forest Forever Facility (TFFF). In a letter to the Conservative Party’s parliamentary group, the government promises a new round in Parliament before a legally binding agreement can be considered. All opposition parties opposed the loan, marking a crack in the 18-year political alliance behind Norway’s rainforest initiative. [Updated]
