2024- Ecuador: Unlocking Historic Funding for the Amazon

In a landmark moment for terrestrial and freshwater conservation, Ecuador, supported by The Nature Conservancy (TNC) and key partners including the DFC, IDB, and Bank of America, announced the financial close of a groundbreaking debt conversion on December 15, 2024. This initiative, part of TNC's Nature Bonds Program, refinanced approximately $1.53 billion of Ecuador's international bonds, generating over $800 million in net fiscal savings for the nation by 2035.

Crucially, this transaction is poised to unlock an unprecedented $460 million in dedicated funding over 17 years for the Amazon Biocorridor Program (BCA)—making it the largest amount ever raised for conservation through a debt conversion. This marks TNC's first land-based Nature Bonds project and its largest to date, signaling a powerful new approach to safeguarding critical ecosystems.

The Amazon Biocorridor Program is an innovative response to global biodiversity loss and climate change, aiming to improve management of 4.6 million hectares of existing protected areas, protect an additional 1.8 million hectares of forests and wetlands, and preserve 18,000 kilometers of rivers in the Ecuadorian Amazon. These vital efforts will bolster climate resilience and secure essential food, freshwater, and cultural benefits for local communities and the world.

Minister Juan Carlos Vega hailed the operation as a testament to Ecuador's commitment to "responsible fiscal management" linked to "concrete actions for the preservation of this invaluable ecosystem." The program, co-designed with Indigenous Peoples and local communities, exemplifies how innovative finance, robust science, and local knowledge can converge to ensure the long-term well-being of both communities and one of the planet's most biodiverse regions.