As a dollarized economy, Ecuador seeks to integrate fully into the global economy. Action needs to be taken to facilitate open markets to private sector participation under a level playing field, improve public-private partnership frameworks, and in some sectors, reform for state owned enterprises. Ecuador has a rich natural endowment which if combined with climate-friendly economic activity has the potential to be a source of sustainable job creation while meeting important mitigation targets.
Through funding from C-JET, a grant is being implemented by the World Bank in Ecuador, to advise the government on their private sector structural reform agenda. The grant will provide technical assistance on designing regulatory frameworks and implementation for specific industries to enable private sector green competitiveness. The grant will also promote competitive neutrality of State-Owned Enterprises and their role in contributing to climate mitigation and adaptation. Through these activities and more, this grant aims to unlock new sources of green competitiveness and facilitate a reform path that prioritizes quality job creation in a sustainable manner.