Institutional Renewal Party of National Action
Published 21st January, 2013
The Institutional Renewal Party of National Action or PRIAN was founded in 2002 as a vehicle for the presidential candidacy of Álvaro Noboa who had been candidate for the Ecuadorian Roldosist Party in 1998. The party describes itself as Right-wing and believes in populism, liberal democratic government and social justice based on a free market.
Álvaro Noboa is one of the richest men in Ecuador with more than 100 companies in his worldwide Noboa Group of Companies. He also runs a foundation called “Crusade for a New Humanity” which uses his personal fortune to fund social projects.
At the election in 2002 Noboa came second in the second round runoff with 45.21% of the vote and his party picked up 10 of the 100 seats in the National Congress.
In 2006 Noboa stood once more as the party presidential candidate and this time he came first in the first round of the election but was beaten into second place by Rafael Correa in the second round, managing to get 43.33% of the vote and 2,689,418 votes. The party did much better taking the top spot in the National Congress with 28 of the 100 seats
2006 was to be the high point of the party to date and in 2009 Noboa slipped into third place in the presidential election with 11.41% of the vote whilst the party managed to win just seven of the 124 seats in the now named National Assembly, coming in fourth.