Billionaire Donates Islands to Latin America for Economic Growth
- billionaire has donated a group of islands to Panama and ecuador in a move intended to boost the economies of both countries.
- Smith, the founder of Vista Equity Partners, donated the islands in the Gulf of Chiriquí to the two nations, according to a press release from his foundation.
- The donation includes Isla Boca Brava in Panama and Isla Cabinillas in Ecuador.Smith's foundation will provide $30 million to support conservation efforts and economic growth on the islands.
A U.S. billionaire has donated a group of islands to Panama and ecuador in a move intended to boost the economies of both countries.
Philanthropist and businessman Robert F. Smith, the founder of Vista Equity Partners, donated the islands in the Gulf of Chiriquí to the two nations, according to a press release from his foundation. The islands will be used for conservation,scientific research,and sustainable tourism.
The donation includes Isla Boca Brava in Panama and Isla Cabinillas in Ecuador.Smith’s foundation will provide $30 million to support conservation efforts and economic growth on the islands.
“This is a historic moment for both Panama and Ecuador,” said panamanian President Nito Cortizo. “these islands will provide new opportunities for our people and help us to protect our natural resources.”
Ecuadorian president Daniel Noboa echoed Cortizo’s sentiments, saying the donation would “strengthen our economies and create new jobs.”
Smith said he was inspired by the beauty and biodiversity of the islands and wanted to help ensure their preservation for future generations.
“I believe that these islands have the potential to be a model for sustainable development,” Smith said. “I am honored to be able to play a role in helping Panama and Ecuador realize that potential.”
The donation is the largest of its kind ever made to Latin America, according to the Smith Foundation.