Assembly decided how to invest the funds from the Yasuni oil

The Declaration of national interest which was approved last Thursday by the Assembly to exploit the blocks  31 and 43 (ITT), establishes that the State intends to invest those resources in  six objectives.

The resolution provides for the Executive “to ensure” that the money raised will be used in the transformation of the productive matrix and energy matrix; the construction of the knowledge society, the consolidation of a territorial pact, the fulfilment of the objectives that motivated the Yasuni-ITT initiative and the agrarian revolution.

However, despite the fact that each statement is explained, it is not specified how the resources will be managed or how much will be assigned for each objective, that is why  Assembly member  Rene Yandun, believes that a special fundmust be  set up a special  to “have a better control” of the money and prevent its use in current expenditure.

The Ministry of Economic Policy estimated in one of the reports it sent to the legislature and that was included in the Declaration, that the extraction of oil in those areas will allow the State to receive between $50.060 and $71.897 million, according to the price of the barrel, “in a horizon which covers 23 years”.

Pamela Falconi (AP), Vice-President of the Commission of Biodiversity, says that it is the responsibility of the Executive to specify the public policies through which the six points of investment will be reached.

The regime says that exploitation will allow to fight poverty in the Amazon.