African Development Bank takes steps to accelerate the circular economy in Africa
With an initiative funded by the KOREA-AFRICA ECONOMIC COOPERATION (KOAFEC) focused on waste management, the African Development Bank aims to accelerate the circular economy in Africa, a model which aims to minimise waste and maximise value from resources through the recovery and regeneration of products at the end of their typical service life.
The rationale for the initiative, entitled “Development of a Green Growth Investment Program in Africa focused on waste management and the circular economy,” is that waste management constitutes one of the major developmental challenges for Africa. It has serious potential consequences in terms of environmental quality, public health, fisheries, agriculture, and sustainable development. The expected outcome of the KOAFEC intervention is a stronger enabling environment for sustainable waste management and circular economy activities. This will be delivered through an enhanced policy and regulatory framework, capacity building and resource mobilization activities.
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