Commitment 04Read more
Renewed Governance
Promote dialogue between the City and the Port within a renewed governance framework.
Developing collaborative approaches, drawing on scientific and technologic knowledge from the scientific community and civil society to support decision making.
How can port authorities finance waterfront transformation?
The need for substantial funding in long-term operations and the requirement to attract and persuade private investors should serve as a driving force for innovation in designing financial models. This innovation involves establishing specialised funding mechanisms tailored to kickstart and finance initial installations, ultimately generating the essential leverage. Such a funding operation was seen in Malecon 2000, where the funding came from private operations within the park and public donations, making the Foundation and the park financially independent.
This good practice also includes objective 8.3 (Developing public spaces and recreational or cultural amenities in City Port interface zones to create an appealing new area) of the AIVP’s 2030 Agenda.
In Guayaquil, given the deterioration of the area once occupied by port activities, it quickly became apparent that some dedicated operational structure was required to plan, develop, build, administer, fund, and maintain the future "Malecón Simón Bolívar" waterfront. In response, the Fundación Malecón 2000 was set up in 1997. Legally, the Foundation is a private, non-profit entity that brings together Guayaquil's most diverse and representative institutions. Under a 99-year emphyteutic lease, Guayaquil granted the Foundation a concession for all Malecón's land, over 17 hectares along the river.
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