Ecuador has signed an agreement with the Inter America Development Bank to improve marine and coastal biodiversity conservation with a $4 million IDB-GEF grant. The aim is:
to advance marine and coastal biodiversity conservation in Ecuador by supporting a protected areas network and helping implement a national action plan for the protection of sharks.
The Ecuador government has contributed a further $4.3 million to the scheme and there is added financial support from U.S. Agency for International Development. Practically, the funding will introduce two new Marine Protected Areas (MPA), to strengthen the 13 existing MPA’s and to cut annual landings of sharks from 39000 to 31000. In addition, it aims to reduce shark by-catch by involving local fisherman at a grass-roots level.