Exclusive
US obstructed World Bank role in Brazil forest fund, Norway doubled down on USD 3b pledge
Days before COP30, the World Bank board rejected a request to act as Treasury Manager for Brazil’s flagship Tropical Forest Forever Facility (TFFF), after strong US resistance, and the fund saw its potential Triple A credit rating implode. A confidential report by Pareto Securities which advised Norway’s Climate ministry on the financial realism of the fund viewed AAA rating and a wider World Bank role as crucial for its success. Despite this, Norway pledged USD 3 billion to TFFF.
