Project for conservation and sustainable use of biodiversity in Ecuador

(Guayaquil March 17, 2011).- CAF - Latin American development bank - the Ecuadorian Environment Ministry (MAE) and the Export and Investment Promotion Corporation (CORPEI) signed agreements to execute the project to facilitate financing for biodiversity businesses and support activities to develop this market in the Andean region. The initiative’s international partners are the Global Environment Facility (GEF) and the United Nations Environment Program.

The objective is to contribute to the conservation and sustainable use of biodiversity by implementing strategies which promote sustainable trade and equitable distribution of the benefits.

The signing ceremony was attended by Environment Minister Marcela Aguiñaga; CAF director representative in Ecuador Hermann Krützfeldt; Maria Teresa Szauer, CAF environment director; and Ricardo Estrada, executive director of CORPEI.

The Project, which represents an investment of over US$14 million, aims to support, stimulate and strengthen over the next four years specific biotrade activities at local, national and regional levels, as a strategy for the conservation and sustainable use of biodiversity. The initiative will also provide an alternative livelihood for local communities which use forests and other natural resources in Colombia, Ecuador and Peru.

To achieve these results, the project will educate public and private entities on biotrade issues; develop inputs for revision, adjustment and preparation of legal and institutional proposals; and open spaces to support international negotiation processes on biotrade-related issues. Also through the initiative, strategies will be designed and implemented to market and promote products and develop programs in favor of quality and logistics.

The Program also aims to increase the volume of information available on biotrade for beneficiaries and interested parties, develop innovative financial instruments to support these biotrade initiatives, and identify, select and support pilot projects which can use these tools.

The project will be coordinated nationally by the Ecuadorian Environment Ministry and by CORPEI because of its recognized expertise in promoting BioTrade in the country. CAF will be responsible for regional coordination through its Biodiversity Program, BioCAF, whose objectives are to promote initiatives to conserve ecosystems and species in the region, and stimulate development of the market for biodiversity and the genetic resources of Latin America.