After the study made by Germany on the practicability of the Yasuni-ITT proposal, its been a over a year of analysis regarding their participation on the project.
The Ecuadorian Commission in charge of the project has sent a 10-page document. “They are going to analyze the Ecuadorian proposal it with interest and sympathy.”Commented Maria Fernanda Espinosa, Ministry of Heritage, who waits the reply in the next weeks.
Germany´s doubt is based on the funds and the decision making process, guarantee bonds and the assurance that the crude will stay underground. There is also the matter on the replication of the Initiative and the source of information on the crude reserves.
Sub secretary of Monitoring and Politics, Tarsicio Granizo, stated that the fond Board would be conformed by three representatives of the Estate, two contributors and a member of the civic society.
“The Board decides were the fund investments are going, the Government is the one that contributes the most in Ecuador by sacrificing 50% of the income it will receive on extracting the crude”.
Espinosa pointed out that on his journey to EE.UU., she met with the General Assembly of the UN, and in Spain obtained commitments from countries that showed interest on the proposal. “Explaining the methods of operation and the mechanisms for administering the fund.”