Guayaquil (Ecuador): a foundation and dedicated financial mechanisms for the “Malecon Simon Bolivar”

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.