The closing event of the Coastal Fisheries Initiative - Challenge Fund Ecuador project was held at the Charles Darwin Foundation's Inspiration Complex, with approximately 40 people in attendance.

The event was attended by the Mayor of the Autonomous Decentralized Municipal Government of Santa Cruz, Ángel Yánez; the World Bank Director for Bolivia, Chile, Ecuador and Peru, Marianne Fay; the Executive Director of the Charles Darwin Foundation (CDF), Rakan Zahawi; and other local and provincial authorities.

The achievements and results of the project, which was financed by the Global Environment Facility (GEF) and implemented in Galapagos by the World Bank Group with the technical support of a consortium made up of the Charles Darwin Foundation, Conservation International, Presencing Institute and Commonland, were presented.

CDF Executive Director Rakan Zahawi underscored the importance of this project.

The implementation of the project began in February 2021 in the islands. One of the objectives achieved during this process, which lasted a year and a half, was the co-creation of a new vision and 10 new prototypes for the Galapagos Seafood system. Eighteen entrepreneurs graduated from the EDES Business School Bootcamp. In addition, the consortium provided technical assistance to 9 socially and environmentally responsible ventures and co-developed 6 portfolios for investors.

Other results included a comprehensive assessment of all artisanal fisheries in Galapagos and an analysis of the credit market for the Galapagos fisheries sector; the development of a social marketing strategy for the vision; and a framework for public-private partnerships. More than 60 people from all sectors of the Galapagos Seafood System participated in this process.

Manuel Yépez, artisanal fisherman and beneficiary of the initiative, commented on his experience and expressed his gratitude for the support received by the consortium, of which CDF was an important pillar for project implementation.

The objective of the Coastal Fisheries Initiative - Challenge Fund Ecuador was to strengthen the capacity of government institutions, the private sector, and the local community to generate a line of responsible investments that seek profitability in the artisanal fisheries of Galapagos.

At the end of the event, a fair of the ventures was presented, where attendees learned firsthand and in detail how the project was implemented to achieve a sustainable, prosperous and resilient seafood system.