By Lisandra Paraguassu

BRASILIA (Reuters) -Brazil’s President Luiz Inacio Lula da Silva announced on Tuesday a $1 billion investment in the Tropical Forests Forever Facility, a multilateral funding mechanism it has proposed to support conservation of endangered forests, at a United Nations event in New York.

The announcement, which confirmed an earlier report by Reuters citing sources, makes Brazil the first country to commit a contribution to the forest fund.

“Brazil will become the first country to lead by example with a $1 billion investment in the fund,” Lula said, adding that he expects other countries to also announce ambitious contributions.

Sources had told Reuters the move aims to unlock more contributions from both wealthy and developing economies, which have been at odds abo

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