The two countries' governments said in a joint statement the money will be spread over the next four years to protect the rainforest.

The Brazilian and the French presidents on Tuesday announced a plan to invest 1 billion euros ($1.1 billion) in the Amazon, including parts of the rainforest in neighboring French Guiana.

The two countries’ governments said in a joint statement the money will be spread over the next four years to protect the rainforest. It will be a collaboration of state-run Brazilian banks and France’s investment agency. Private resources will also be welcomed, Brazil and France said.

French President Emmanuel Macron and his Brazilian counterpart Luiz Inácio Lula da Silva are meeting this week to revive the relationship between the countries after years of frictions with former President Jair Bolsonaro, deepen cooperation to protect the rainforest and boost trade.