AfDB’s fund receives US$2m from NDF

The African Circular Economy Facility will receive a €2 million grant from the Nordic Development Fund (NDF) (ACEF). As a result, the multi-donor trust fund will increase its financial support for African countries that are using the circular economy to combat climate change.

This is a choice to protect African ecosystems. The Nordic Development Fund (NDF) has recently invested 2 million euros in Africa’s new Circular Economy Facility (ACEF).

The African Development Bank (AfDB) has developed a multi-donor trust fund to assist circular economy initiatives in its member states.

Henrik Franklin, Director of Organization and Portfolio Management at the NDF noted that
this method is critical for climate change adaptation and mitigation, and it has enormous potential to create jobs, improve productivity, and boost African countries’ economic competitiveness.

Several African countries have already begun to invest in the development of the circular economy. This is the scenario in Morocco, which uses solid waste and wastewater recycling to address a number of issues, including agricultural development through fertilizer manufacture.