Billions for the circular economy

The flagship partnership aims to support the development and implementation of circular economy projects and programmes in the European Union. The aim is to prevent and eliminate waste, increase resource efficiency and foster innovation by promoting circularity in all sectors of the economy. At least €10bn of investments are planned over the next five years.

Apart from the European Investment Bank, five national promotional banks are involved: French Groupe Caisse des Dépôts, Spanish Instituto de Crédito Oficial, German Kreditanstalt für Wiederaufbau, Polish Bank Gospodarstwa Krajowego and Italian Cassa Depositi e Prestiti. The Joint Initiative on Circular Economy (JICE) will provide loans, equity investment or guarantees to eligible projects and develop innovative financing structures for public and private infrastructure, municipalities, private enterprises of different size as well as for research and innovation projects. Investments will target all stages of the value chain and lifecycle of products and service. 

“Fighting global warming and environmental crises is the most urgent challenge of our time. Strengthening the circular economy is one of the most powerful tools in our arsenal,” said EIB President Werner Hoyer. “It will not only help achieve the Paris Agreement targets but also bring huge benefits for the economy and society. With the Joint Initiative on Circular Economy, we are scaling up our ambition and joining forces with our peers to stem the tide of waste.”