The African Development Bank has launched an investment program for green growth in Africa, financed by the Korea-Africa Economic Cooperation (KOAFEC), focused on a waste management model that maximizes the resources’ value through the recovery and regeneration of products at the end of their normal useful life.
The initiative brings opportunities specifically for public, private and public-private investment projects in Algeria, Ethiopia and Rwanda, three countries that have already taken measures to promote sustainable waste management and the circular economy:
- In Ethiopia,the focus is on energy recovery from waste incineration.
- Algeria promotes the improvement of the waste value through recycling, composting and remanufacturing.
- Rwanda have removed the use of plastic bags in order to promote consumer patrons and production sustainables.
The iniciative will identify key opportunities for investing in both, public and private sector in waste management and circular economy.
“For African countries, the circular economy model offers concrete means to deliver on their Paris Agreement and Sustainable Development Goal (SDG) commitments and the broader Africa Agenda 2063 through the scaling of green innovations with positive impact on job creation and resource optimization,” said Prof. Anthony Nyong, Director for Climate Change and Green Growth at the African Development Bank. “In this regard, the circular economy model strongly aligns with the Bank’s High 5 agenda and brings forth innovations with the potential for new project pipelines for the Bank’s operations.”