Norway pledges nearly $3 billion for forest fund

A forest protection fund launched at a climate summit in Brazil Thursday received a shot in the arm from Norway with a promised contribution of up to $2.9 billion in loans. Norway's contribution to the Tropical Forest Forever Facility would be conditional on at least $9.8 billion having been secured from other donors, according to a government statement.

Another condition is that Norway's contribution must not exceed 20 percent of the fund's total financing. The Norwegian loans will be disbursed gradually until 2035 and must be repaid by 2075.