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Ecuador is a country that is home to a natural treasure that needs to be saved urgently. But over-indebted, it is impossible for the state to invest in order to preserve it, unless financing solutions are found.
In the heart of the Pacific Ocean, there is an exceptional refuge for fauna and flora: the Galapagos Archipelago. The volcanic area belongs to Ecuador. It is home to thousands of different species of fish, marine mammals and birds. But with global warming and overfishing, the archipelago is in danger. The country, in the midst of an economic crisis, does not have the means to act.
A winning transition
Ecuador has therefore signed an extraordinary agreement aimed at reducing its debt while preserving the environment. For this, part of Ecuador’s debt, 1,628 million dollars, will be reduced by a complex financial operation. The country’s new commercial debt will then be only 656 million. In return, Ecuador agrees to provide funds of $450 million over nearly 20 years to protect the Galapagos Islands. A winning transaction according to an expert. In the years to come, this aid system could multiply.