India welcomed Brazil's initiative to establish a Tropical Forests Forever Facility (TFFF) during the leaders' summit at COP 30 in Belem, Brazil. Recognising it as a significant step towards collective and sustained global action for the preservation of tropical forests, the country joined as an observer. However, its benefit may be marginal because India has a smaller area of tropical rain forest.
The TFFF is proposed as a blended-finance mechanism to incentivise countries to prevent the deforestation and degradation of moist broadleaf tropical forests.
The fund will operate like a commercial bank, where it will obtain loans of $125 billion at lower interest rates and lend them at higher rates to generate a profit of around $4 billion annually.
My take
A nice initiative!
Tailpiece.
Got up at 5, sent all the messages, switched on the hymns on the home theatre, lit up the puja room lamp and opened up the house for the day.
Walked on the road in front of the house and recited my prayers.
A quiet Saturday.
Lekha's medicines have been administered and she says that there's a forward development.
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