Credit Suisse, JP Morgan, Citibank and Goldman Sachs would be interested in the debt-for-conservation swap proposed by creating a new protected area in Galapagos
The Minister of the Environment, Water and Ecological Transition, Gustavo Manrique, describes Ecuador’s participation in COP26, which takes place in Glasgow, Scotland, as an “extraordinary” success. He claims that the country has made headlines in the international press by announcing the creation of a new 60,000-square-kilometer protected area in Galapagos: “We have set a concrete example of conservation right now and not for 2030, 2050.”
He adds that the debt-for-conservation swap mechanism from which the resources will be obtained to protect this new area and the entire archipelago has been echoed by the main financial institutions worldwide. President Guillermo Lasso, due to his banking expertise, will evaluate the best option, says Manrique.