Moving towards a circular economy

About NØW

 

The European Bank for Reconstruction and Development (EBRD)’s Near Zero Waste - NØW programme is a strategic initiative to promote waste minimisation and pollution prevention projects in various sectors of the economy in Turkey.

Scope of the Programme

The Near Zero Waste Programme consists of four main components:

  1. financing for waste minimisation projects, combining EBRD funds with concessional finance from the Clean Technology Fund (“CTF”), to support early movers in replicable investments currently hindered by market failures;
  2. free of charge technical support for project developers;
  3. policy dialogue to enable and mainstream the concept of waste minimisation in different economic sectors; and
  4. raising awareness and knowledge sharing to promote best global practices.

Programme Funders

EBRD

The Programme will support EBRD waste minimisation investments for an approximate aggregate value of USD 125 million.

The EBRD is the largest financer of sustainable energy and resource efficiency in its region. Through its Green Economy Transition, EBRD have committed to doubling its sustainable development and resource efficiency financing to €18 billion in the next 5 years.

Donor Support

The Clean Technology Fund (CTF) will provide US$ 20 million to cover the additional Transaction costs associated with being an early mover in the waste minimisation sector and with the subsequent dissemination of best practices. The CTF is part of the Climate Investment Funds.

 

US$ 2.4 million will be provided by the European Union via its 2013 Instrument for Pre-accession Assistance (“IPA”) funds, for the purposes of pipeline preparation, project development and policy dialogue activities.