Central Bank of Ecuador awarded with the Central Banking Awards 2023

The South American country indicated this Friday that the Central Banking Awards 2023 was awarded to the ECB for its gold marketing program

The gold marketing program of the Central Bank of Ecuador, which includes small miners and artisanal miners, has earned it the Central Banking Awards 2023.

Authorities from the local bank reported it this Friday through a statement highlighting: “This international award represents a milestone in terms of institutionality and transparency for the public sector and the ECB.”

The awarding of the award to the ECB took place at an event this week in London attended by the Monetary Policy and Regulation Board and the ECB, who “received recognition for the efforts made by the institution to promote artisanal and small-scale mining sustainable in our country.

During the ceremony, recognition was also made of the “good practices of the Central Bank Program in environmental matters”, as well as its work against money laundering.

Regarding the gold marketing program for which they have received the Central Banking Awards 2023, it was learned that in March 2022 “the ECB successfully concluded the refining and certification process of 80,850.7 troy ounces of non-monetary gold, which allowed to incorporate into the International Reserve (IR) of Ecuador certified gold bars whose value at the date of their registration was 157.9 million dollars.”

Later, in October, the BCE signed a cooperation agreement with BanEcuador, the Ministry of Environment, Water and Ecological Transition, and the Ministry of Energy and Mines, to achieve “the legal and sustainable development of small-scale mining and artisanal mining, through rigorous certification processes, and the granting of financing facilities through BanEcuador”.

Responsible mining, achieving monetary stability, in addition to strengthening the dollarization process in Ecuador, make up the greatest challenge for the nation and the ECB.


Source: swissinfo

(Reference image source: Unsplash, in collaboration with Planet Volumes)

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