× Business BUSINESS MOTORING SHIPPING & LOGISTICS DR PESA FINANCIAL STANDARD Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Fact Check Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS

African Development Bank sets up Sh498m fund to improve recycling

By Moses Omusolo | Apr 22nd 2022 | 1 min read
By Moses Omusolo | April 22nd 2022
President Uhuru Kenyatta held talks with Ms. Nnenna Nwabufo, African Development Bank (AfDB) East Africa Region Director-General who called on him at State House, Nairobi on April 6, 2022. [PSCU, Standard]

The African Development Bank (AfDB) has joined forces with the Finnish government to set up the continent’s first circular economy trust fund.

The circular economy is a model of production and consumption that involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products for as long as possible.

AfDB said the new multi-donor trust fund, which will operate for five years, will receive initial support of €4 million (Sh498.5 million) from the Government of Finland and the Nordic Development Fund.

With board approval set for March 30, the fund is expected to improve the regulatory environment for circular economy innovations.

Share this story
Innovative manholes to cut costs
Megapipes Solutions Ltd, a Ruiru-based firm, has introduced a new range of manholes for the Kenyan market, designed for more efficient construction.
State now to have say on oil firms' exports to regional markets
State now has say on oil marketers' exports to region to curb shortages