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ECUADOR ANNOUNCES THE WORLD'S BIGGEST BLUE-BOND SWAP TO PROTECT THE GALAPAGOS ISLANDS
Extraordinary and Plenipotentiary Diplomatist
|May 2023
The Ecuadorian government has announced a strategy to swap debt in favour of nature conservation; this will represent the most important move to preserve nature. This approach will save $1,100 billion, in debt for the country out of which, $450 million will be invested in the conservation of the Galapagos islands.
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Gustavo Manrique Miranda, Minister of Foreign Affairs, said: "These funds will promote climate resilience and support the sustainable fishery, thus taking a crucial step toward a financial transition where diplomacy, conservation, and finance walk together headed toward the path of general well-being." The minister further added: "The Ecuadorian people have a close bond with the ocean. We understand its value and we treasure nature because of what it gives to our people and our economy."
This story is from the May 2023 edition of Extraordinary and Plenipotentiary Diplomatist.
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