According to European Union, the objective is to achieve the ecological transition, mitigate climate change, mobilize investments and combat chronic childhood malnutrition. «Ecuador “It is one of the few countries in the world that is really interested in conservation and combating chronic childhood malnutrition.”
Therefore, at least 1 billion euros will reach Ecuador from the European Union to invest in the country in new ideas related to environmental care and sustainability. This, after the signing of a financing agreement between the National Government and the UE with which the initiative is implemented ‘A Green Pact for Ecuador‘.
The idea is implemented by Team Europe, made up of the European Commission, the European Investment Bank, the German Cooperation: GIZ and KfW and the French Development Agency. The project will have various sources of financing:
- Financial guarantee funds
- Climate finance mobilization
- Concessional funds from European development financial institutions
«Under the principles of the strategy of the European Union, Global GatewayAs Team Europe, we launch the initiative Green Pact for Ecuadoran important milestone for the country that will allow us to work firmly on the green and sustainable development of the Ecuador» indicated Charles-Michel Geurtsambassador of the UE in Ecuador.
«For the Government of my country it is a great honor to support the Global Gateway and Green Pact initiatives for Ecuador, to achieve the ecological transition and mitigate climate change in Ecuador. With an investment of 15 million (EUR) Germany joins the implementation of the Green Pact initiative for Ecuador, through the CIS II and MoVer Cities programs,” said Philipp Schauer, German ambassador to Ecuador.
Sustainable Cities and Climate Financing
The Sustainable Intermediate Cities (CIS II) and Green Mobility in Cities (MoVer Cities) programs will be implemented by the German Cooperation (GIZ), with co-financing from the EU and the German Federal Ministry for Economic Cooperation and Development (BMZ). These were presented on April 17, 2024, at the “Sustainable Cities and Climate Financing” event.
“Under the principles of the European Union strategy, Global Gateway, as Team Europe, we launch the Green Pact initiative for Ecuador, an important milestone for the country that will allow us to work firmly on the green and sustainable development of Ecuador,” said Charles-Michel Geurts, ambassador of the EU in Ecuador.
Ecuavisa indicates that the state entities of Ecuador that will implement the project are: Ministry of the Environment, Water and Ecological Transition, Ministry of Production, Foreign Trade, Investments and Fisheries, Ministry of Urban Development and Housing, Ministry of Transportation and Public Works, Development Bank of Ecuador, Association of Ecuadorian Municipalities , and Technical Secretariat Ecuador Grows Without Child Malnutrition.
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