Investing in the Future of Ecuador - Environmental Funds Tool Kit
Investing in the Future of Ecuador - Environmental Funds Tool Kit
Investing in the Future of Ecuador - Environmental Funds Tool Kit
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B) THE ECOFONDO PROGRAM<br />
The Fondo Ambiental Nacional (FAN) manages <strong>the</strong> EcoFondo<br />
Program, funded by <strong>the</strong> Crude Oil Pipel<strong>in</strong>e (OCP), <strong>Ecuador</strong><br />
S.A. and EnCana Corporation (EnCana). This 16.9 million US<br />
dollar, 20-year ‘s<strong>in</strong>k<strong>in</strong>g’ fund constitutes one <strong>of</strong> <strong>the</strong> most important<br />
sources <strong>of</strong> private fund<strong>in</strong>g dedicated to biodiversity<br />
conservation <strong>in</strong> <strong>Ecuador</strong>.<br />
The design and structure <strong>of</strong> this fund are <strong>the</strong> product <strong>of</strong> a thorough<br />
negotiation process between a group <strong>of</strong> non-governmental<br />
environmental organizations <strong>in</strong> <strong>Ecuador</strong> and petroleum<br />
sector companies <strong>in</strong>terested <strong>in</strong> co-f<strong>in</strong>anc<strong>in</strong>g<br />
conservation activities.<br />
The implementation <strong>of</strong> <strong>the</strong> EcoFondo follows an annual competitive<br />
project cycle that beg<strong>in</strong>s with a public call for proposals.<br />
Projects are assessed by a panel <strong>of</strong> external experts<br />
and approved by <strong>the</strong> board <strong>of</strong> <strong>the</strong> EcoFondo.<br />
Eligible activities <strong>in</strong>clude: conservation and susta<strong>in</strong>able use <strong>of</strong><br />
natural resources, research, and promotion. This program is<br />
ma<strong>in</strong>ly applied <strong>in</strong> areas <strong>of</strong> direct <strong>in</strong>fluence <strong>of</strong> <strong>the</strong> pipel<strong>in</strong>e,<br />
protected areas related to hydrocarbon production, and<br />
ecosystems <strong>of</strong> national importance.<br />
20
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