The government has responded to “concerns” circulating on social media about the debt swap and the operations of the Galapagos Life Fund (GLF). This is an article from American digital media jacobin which states that the Galapagos Life Fund (GLF), a corporation that will manage debt-for-nature resources and serve to protect the archipelago, will not have control over the distribution of funds and will not guarantee the protection of the islands.

jacobin He describes himself on his website as “a leading voice of the American left offering socialist perspectives on politics, economics, and culture.”

The Galapagos Life Fund will be a corporation that manages debt-for-nature resources that will serve to protect the archipelago

Before the announcement, the Regime issued a statement this Saturday, June 10, through a statement from the General Secretariat of Communications, in which it assured that Ecuador has not ceded any type of control over sovereignty over the Galapagos Islands and also confirmed the commitment to care and preserve the country’s biodiversity.

“The sovereignty of the Ecuadorian state is guaranteed both in the formation of the fund and in its operation, since no foreign power or interest will be above the ecological principles and priorities of Ecuador, in accordance with the Constitution and laws of our country,” the Government clarified.

The amount of exchanged debt was 1,630 million dollars. According to the Government, the savings will amount to 1.121 million dollars, and 450 million dollars will go to the conservation of the Galapagos.

The executive clarified that GLF is a private entity whose investments come from foundations and do not imply the use of public funds at all, and that it has 11 members of the Board of Directors, of which 8 are Ecuadorians and 3 are foreigners.

The representatives of Ecuador are:

State bodies: Ministry of Environment, Water and Ecological Transition, which chairs it; Ministry of Defense, Ministry of Foreign Affairs and Human Mobility; Ministry of Production, Foreign Trade, Investments and Fisheries; and the Galapagos Government Council. Artisanal Fishermen’s Association, the Academy (currently the University of San Francisco de Quito) and the Galapagos Tourism Chamber.

The regime explained that the establishment of the fund aims to protect against political influences that want to abuse their economic resources and thus ensure that they are dedicated exclusively to conservation and sustainable fishing in Ecuador. He also revealed that the first meeting of the board was held transparently and publicly.

Colectivo Más Galápagos confirms that Ecuador has not ceded sovereignty in the management of the archipelago for blue bonds, as assured by the United States digital media

In addition, the collective Más Galápagos, which promoted the creation of the Hermandad reserve and supported the process of swapping conservation debt (blue bonds), also rejected, through a statement, that Ecuador lost sovereignty in the management of the archipelago to the application of the blue bonus figure.

“In view of the unfounded criticism of the transfer of sovereignty, we announce that the opposite, since it has contributed to the maintenance of Ecuador’s presence in 202,000 square kilometers of marine territory and that its care and protection are permanently financed by this new mechanism, the first blue bond in the world”, says Más Galápagos