According to CNBC, Ecuador is pursuing new ways to finance nature conservation while planning to continue oil extraction in parts of the Amazon. The government hopes to issue its first sovereign green bonds in 2027 and is seeking advice from the European Union on the instruments, Environment and Energy Minister Juan Carlos Blum said. In March, IDB Invest and Banco Bolivariano issued a $120 million biodiversity bond to support conservation projects. Debt swaps completed in 2023 and 2024 freed up about $1.1 billion for conservation in the Amazon and Galapagos Islands. In October, the government announced plans to open new oil exploration tenders in parts of the Amazon, according to local media reports. Ecuador also plans to host the U.N. biodiversity summit, COP18, in 2028.