Media Launch of the Africa Circular Economy Facility (Acef)

24 May 2022
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African Development Bank (Abidjan)
press release

What: Media Launch of the Africa Circular Economy Facility (ACEF)

Who: The African Development Bank Group; the Government of Finland

When: Wednesday, 25 May 2022, 16:30-17:15 GMT

Where: The Press Conference Room, Accra International Conference Center, Accra, Ghana

The Media Launch will showcase the Africa Circular Economy Facility as the African Development Bank's first dedicated trust fund to support circular economy innovations and policy frameworks.

The event will feature a discussion between Mr. Juha Savolainen, Deputy Director General, Ministry of Foreign Affairs of Finland and Mr. Kevin Kariuki, African Development Bank Vice President for Power, Energy, Climate Change and Green Growth. The discussion will explore the benefits of the Facility as a conduit to deliver on Paris Agreement targets and the Sustainable Development Goals while driving Africa's green economic recovery.

The concept of circular economy has gained traction in recent years as a model for sustainable production and consumption that optimizes the use of natural resources and materials.

Although a modern concept, circular practices - including permaculture, the use of biomaterials, and community sharing - have existed for hundreds of years in many cultures. For African countries, the circular economy model offers concrete steps to scale green innovations, create green jobs and also meet internationally agreed targets.

The Facility is a multi-donor trust fund supported by the Government of Finland and the Nordic Development Fund. It provides financing for transformative policy and business innovations to mainstream the circular economy and sustainably advance African development priorities. The Facility also supports the African Circular Economy Alliance. The Alliance, a government-led coalition of African nations, works to spur Africa's transformation to a circular economy that delivers economic growth, jobs, and positive environmental outcomes.

Please visit the Annual Meetings website for more information: https://am.afdb.org/en

Contact: Solange Kamuanga-Tossou | Communication and External Relations Department | African Development Bank | media@afdb.org

Read the original article on African Development Bank (AfDB).

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