Brazil has enlisted bank managers to combat deforestation in the country's rainforest, using a new rule that requires banks to check if rural loan applicants have any deforestation on their farms. If bank managers detect any clearing since 2019, farmers applying for government-funded rural credit must show proof of deforestation permits to get their loans approved. The rule, which covers about $53 billion in loans to farmers with federal subsidies, will also affect agribusiness letters of ​credit, a type of private lending for farmers that goes through the same rural credit channels in banks. The new policy has been met with criticism from Brazil's powerful agribuiness sector, whose deep pockets and opposition to the government may influence October elections. The move aligns with President Luiz Inacio Lula da Silva's commitment to ending deforestation in Brazil by 2030.