CAF promotes preservation of Galapagos biodiversity

During a trip to Ecuador, CAF Executive President Sergio Díaz-Granados visited the Galapagos Islands, and signed an agreement that will help reinforce control and surveillance of the Galapagos Marine Reserve, and eradicate invasive predators from Floreana Island.  The agreement was signed also by Eliecer Cruz, director of the Jocotoco Foundation’s Galapagos project, and the ceremony was attended by the Minister of Environment, Water and Ecological Transition (MAATE), Gustavo Manrique; and the CEO of the Global Environment Facility (GEF), Carlos Manuel Rodríguez.

The project will include a component for the eradication of introduced species on Floreana Island, which has been identified as one of the five most significant islands in the world. This will prevent the extinction of endangered native wildlife and promote the restoration of natural vegetation.

“It is imperative to adopt nature-based measures to preserve our natural ecosystems. Thus, as part of the commitments to address global warming, CAF has pledged to become the green and blue bank of Latin America and the Caribbean, and is set to mobilize some USD 25 billion over the next five years to advance green growth in the region,” said Sergio Díaz-Granados.

In addition, the project is expected to enhance the control and surveillance capacity of the Galapagos Marine Reserve, in an attempt to prevent pollution, illegal fisheries, and provide timely assistance to contingencies that jeopardize coastal marine ecosystems. The third component will enable the design of roadmaps for the development of financial sustainability mechanisms for Galapagos ecosystems which, in turn, will help ensure long- and medium-term financial flows required to ensure the livelihoods of local communities that rely on these habitats and their environmental services.

CAF’s visit to Galapagos is proof of the institution’s commitment to foster financial solutions that protect biodiversity and maintain and enhance the productive value of natural capital and environmental services. In Ecuador, and particularly in Galapagos, CAF has implemented operations to capitalize on the opportunities identified to address the challenges of Galapagos, its people and its protected areas. In the past 20 years, the multilateral organization has invested USD 27.9 million in 6 projects, with 2 investment programs and 4 non-reimbursable technical cooperation facilities.

These investments were made in sectors such as sustainable transport infrastructure, support to revamp water systems, solid waste management and sanitation, environmental and climate management, and comprehensive, sustainable logistics for Galapagos.