{"id":16490,"date":"2022-06-01T10:09:07","date_gmt":"2022-06-01T10:09:07","guid":{"rendered":"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-group-launches-dedicated-trust-fund-for-circular-economy"},"modified":"2022-06-01T10:26:11","modified_gmt":"2022-06-01T10:26:11","slug":"afdb-group-launches-dedicated-trust-fund-for-circular-economy","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-group-launches-dedicated-trust-fund-for-circular-economy","title":{"rendered":"AfDB Group Launches Dedicated Trust Fund for Circular Economy"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Liberia. <\/strong><\/span>The African Development Bank Group launched its first Africa Circular Economy Facility during its 2022 Annual Meetings. The circular economy is a model of production and consumption that involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible.<\/p>\n<p>The Bank Group\u2019s Board of Directors approved the facility on 30 March. As a trust fund, it will channel finance and de-risk innovative circular economy business models beyond waste management. It will support the country-led African Circular Economy Alliance (ACEA in integrating the circular economy into African green growth strategies.<\/p>\n<p>The multi-donor trust fund will operate over a five-year period. It will receive initial support of \u20ac4 million from the Government of Finland and the Nordic Development Fund.<\/p>\n<p>The facility will focus on three strategic areas: institutional capacity building to strengthen the regulatory environment for circular economy innovations and practices; providing support to the private sector through a business development program; and providing technical assistance to the African Circular Economy Alliance.The Facility is the African Development Bank\u2019s first dedicated trust fund to support circular economy innovations and policy frameworks. It is unique in Africa.<\/p>\n<p>The highlight of the launch was an interactive discussion on the benefits of the circular economy and the new facility. Discussants were Mr. Juha Savolainen, Deputy Director General of the Ministry of Foreign Affairs of Finland\u2014and temporary Bank Group Governor for Finland\u2014and Dr. Kevin Kariuki, Vice President for Power, Energy, Climate Change and Green Growth at the African Development Bank.<\/p>\n<p>Savolainen said: \u201cFinland is committed to supporting the African Circular Economy Alliance and the circular economy as a pathway to green growth. The key to success in designing a circular economy roadmap in Finland has been the involvement of a broad spectrum of stakeholders, such as ministries, local governments and the private sector. We hope that sharing our experience can help others to succeed in their circular transition.\u201d<\/p>\n<p>Kariuki reiterated the African Development Bank\u2019s commitment to the promotion of the circular economy as a development strategy. He said: \u201cCircular economy principles align with the African Development Bank\u2019s agenda to transition Africa towards green growth. It is indeed in line with the theme of this year\u2019s Annual meetings\u2014achieving climate resilience and a just energy transition for Africa.<\/p>\n<p>The African Circular Economy Facility will increase the Bank\u2019s portfolio of operations that align with the circular economy. This includes renewable energy, climate-smart agriculture and green manufacturing sectors. This will create new value-chains that generate new green jobs for the African youth.\u201dCircular economy principles play a strategic role in advancing the African Development Bank\u2019s High-5 development priorities.<\/p>\n<p>They will help African countries achieve their nationally determined contribution targets. These are the public pledges from countries on how they plan to play a part in post-2020 collective action on climate change. Circular economy principles will also advance countries\u2019 progress towards the UN Sustainable Development Goals and contribute to Africa\u2019s economic recovery.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/liberia\">Liberia<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Liberia. The African Development Bank Group launched its first Africa Circular Economy Facility during its 2022 Annual Meetings. The circular economy is a model of production and consumption that involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible. The Bank Group\u2019s Board of Directors approved the [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":16489,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,237,234],"class_list":["post-16490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-liberia","tag-liberia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>AfDB Group Launches Dedicated Trust Fund for Circular Economy - Liberia<\/title>\n<meta name=\"description\" content=\"The African Development Bank Group launched its first Africa Circular Economy Facility during its 2022 Annual Meetings. ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-group-launches-dedicated-trust-fund-for-circular-economy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AfDB Group Launches Dedicated Trust Fund for Circular Economy\" \/>\n<meta property=\"og:description\" content=\"The African Development Bank Group launched its first Africa Circular Economy Facility during its 2022 Annual Meetings. ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-group-launches-dedicated-trust-fund-for-circular-economy\" \/>\n<meta property=\"og:site_name\" content=\"Liberia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-01T10:09:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-01T10:26:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/liberia\/sites\/37\/2022\/06\/postQueueImg_21.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"860\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-group-launches-dedicated-trust-fund-for-circular-economy#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-group-launches-dedicated-trust-fund-for-circular-economy\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"AfDB Group Launches Dedicated Trust Fund for Circular Economy\",\"datePublished\":\"2022-06-01T10:09:07+00:00\",\"dateModified\":\"2022-06-01T10:26:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-group-launches-dedicated-trust-fund-for-circular-economy\"},\"wordCount\":515,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-group-launches-dedicated-trust-fund-for-circular-economy#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/liberia\/sites\/37\/2022\/06\/postQueueImg_21.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Liberia\",\"Liberia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-group-launches-dedicated-trust-fund-for-circular-economy#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-group-launches-dedicated-trust-fund-for-circular-economy\",\"url\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-group-launches-dedicated-trust-fund-for-circular-economy\",\"name\":\"AfDB Group Launches Dedicated Trust Fund for Circular Economy - 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