Kiss This Xingu River Waterfall Goodbye (Probably These People Too) - Upstream From Belo Monte Dam

[hatrack]

Characterized by crystal-clear waters and surrounding by tropical rainforest, the Xingu is considered one of the most beautiful rivers in the Amazon basin. Yet the Xingu is on the brink of destruction due Belo Monte, an $18.5 billion hydroelectric project backed by Brazilian government energy companies; Vale, mining giant; Bertin, one of the largest meat processing firms; and nearly a dozen other companies. The vast majority of Belo Monte's funding comes from the Brazilian Development Bank (BNDES).

Belo Monte will swamp more than 40,000 hectares of forest and displace upwards of 16,000 people, including indigenous Kayapo tribes, which strongly oppose the dam.



Nevertheless, last week BNDES announced the creation of a new fund for the Kayapo people. The Kayapó Fund will initially receive $4 million from the BNDES-administered Amazon Fund, which supports initiatives to conserve and sustainable manage the Amazon rainforest. Conservation International (CI), with the support of the Gordon and Betty Moore Foundation, will contribute another $4 million.

According to CI, the Kayapó Fund is modeled after U.S. trust funds "to use the annual investment income generated from the capital to provide sufficient funding for the long-term management of the supported territories." They money will go toward grants aims at developing sustainable economic activities for the Kayapo people across their territories. Funds will also be used to monitor Kayapo lands against incursions.

EDIT

http://news.mongabay.com/2011/0711-xingu-pod.html

[xchrom]

1. Wow. Very sad. Nt