President Raphael Correa now has approved an agreement to leave Ecuador’s largest oil reserves, amounting to some 900 million barrels, underground in Yasuni National Park in exchange for more than $3 billion. 
Under the unprecedented agreement, known as the Yasuni-ITT Initiative, the government of Ecuador will refrain from exploiting the Ishpingo-Tambococha-Tiputini oil field within the Amazon rainforest park, which scientists have determined to be the most biodiverse area in all of South America.
The agreement between Ecuador and the United Nations Development Programme creating a trust fund to receive donations to the Yasuni-ITT Initiative was nearly signed in December at the UN climate summit in Copenhagen, but at the last minute, President Correa instructed his negotiators to hold back until several sticking points were resolved.
Now, those issues are settled and the agreement will be signed within the next week to 10 days, according to Ivonne Baki, who now heads the president’s negotiations committee for the Yasuni-ITT Initiative.
“It has been reviewed by the president and was approved by the president,” she said of the detailed Terms of Reference for the UN Development Programme trust fund.
More:
Amazon Rainforest Facebook Group:
Join us here:
The Amazon Rainforest 
I am a member of ATTAC Japan. We are very much impressed by this initiative. We want our government to join this.
Everyone is always very welcomed to assist in preservation of Earth.
I thank you, in the name of those who are coming after us, Kitahata tomodachisan.