The Beijing-based Asian Infrastructure Investment Bank (AIIB) and the Singapore-based Alliance to End Plastic Waste (AEPW) say they have launched a cofinancing initiative “focused on integrated solid waste management services and solutions” in more than 10 cities and districts in Indonesia.
The newly announced funding package includes AIIB’s planned financing of $150 million over the course of the next five years.
Through the project, AIIB says it will strive to provide solid waste management services that are “climate-aligned,” including recycling-related circular economy principles that can help serve some 9 million Indonesians.
This project will focus on waste management infrastructure, building the capacity of regional organizations and companies and “catalyzing community change behavior while addressing livelihood concerns faced by informal sector workers,” according to AIIB.
