Conservation project of the Galapagos Marine Reserve and the Hermandad Marine Reserve

Ecuador will allocate USD 450 million for the conservation of the Galapagos Marine Reserve and the Hermandad Marine Reserve. These funds come from the restructuring of a USD 1.63 billion debt, which was reduced to a new USD 656 million loan with better financial conditions, such as lower interest rates and longer repayment terms. Thanks to this restructuring, Ecuador has been able to redirect these resources towards environmental protection and sustainable development in the Galapagos Islands. The USD 450 million will be managed by the Galapagos Life Fund (GLF). This fund will finance a variety of projects in the Galapagos Islands, such as the protection of marine ecosystems, the promotion of sustainable fisheries, environmental education, sustainable tourism and the blue economy. Specific projects include the management and expansion of the Hermandad Marine Reserve, created in 2022, and the conservation of biodiversity in the Galapagos Marine Reserve.