AfDB launches a €4 million multi-donor trust fund to strengthen the Africa Circular Economy Facility.

April 19, 2022

The African Development Bank (AfDB) launches a €4 million multi-donor trust fund to strengthen the Africa Circular Economy Facility (ACEF). It will operate for five years and is funded by the Government of Finland and the Nordic Development Fund. A circular economy is a production and consumption model consisting of reusing, restoring, renewing, and recycling existing materials and products for as long as possible. A circular economy is essential for adapting and mitigating climate change, job creation, productivity, and strengthening Africa’s economic competitiveness.

The facility will focus on building institutional capacity to boost the regulatory environment for circular economy innovators, supporting the private sector through business development programs, and providing technical assistance. ACEF will strengthen AfDB’s operations that align with the circular economy, such as sectors working on renewable energy, climate-smart agriculture, and green manufacturing. In addition, it will contribute to the progress toward the UN SDGs.

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