The Nordic Development Fund (NDF) is granting €2 million to the African Circular Economy Facility (ACEF). The multi-donor trust fund will thus strengthen its financial support to African countries engaged in the circular economy to mitigate the effects of climate change.
This is a decision to preserve ecosystems in Africa. The Nordic Development Fund (NDF) has just injected 2 million euros into the new African Circular Economy Facility (ACEF). The multi-donor trust fund, launched by the African Development Bank (AfDB) aims to support circular economy practices in its member states.
“This approach is essential for climate change adaptation and mitigation, and has vast potential to create jobs, improve productivity and enhance economic competitiveness in African countries,” explains Henrik Franklin, the NDF’s Director of Organization and Portfolio Management.
Some model countries
Several African countries are already investing in the development of the circular economy. This is the case in Morocco, which is banking on the recycling of solid waste and wastewater to meet several challenges, including the development of agriculture through the production of fertilizers. The reuse of treated wastewater for irrigation is also an alternative to water stress. In its approach, the Cherifian Kingdom benefits from the support of private partners such as Averda, Suez and Managem.
The release of 2 million euros by the NDF will encourage the dynamism of African governments to develop circular economy practices. States that are still dragging their feet should also have funding to jump on the bandwagon “with a view to achieving the Sustainable Development Goals (SDGs), while meeting the objectives of the Paris Agreement, and the Agenda 2063 of the African Union,” says the NDF.