European Investment Bank and government partners launch initiative to clean up the oceans | News | SDG Knowledge Center

October 12, 2018: The French Development Agency (AFD), the European Investment Bank (EIB) and the KfW Group, on behalf of the German government, launched the Clean Oceans initiative. The five-year initiative will support the development and implementation of sustainable projects to reduce pollution, especially plastics, in the world’s oceans.

The three partners will provide € 2 billion in long-term funding for projects aimed at reducing marine litter, especially plastics, as well as untreated wastewater discharges. Projects will focus on four key areas: collection, pre-treatment and recycling of waste, especially plastic, collected on land and in rivers and the ocean; better waste management in ports and ports to reduce marine litter from ships; and the implementation of wastewater treatment plants to support the reduction of plastics and other pollutants in rivers and oceans. The projects will fund the collection, sorting and recycling of waste before it reaches rivers and streams.

According to the EIB, 90% of plastic waste enters the ocean through ten major river systems in Africa and Asia. These regions face difficulties in accessing regular waste collection and have limited control over waste disposal. Therefore, the Clean Ocean Initiative will focus on projects in coastal and riverine areas of developing countries in Africa, Asia and the Middle East.

The Clean Oceans Initiative will help develop innovative solutions to clean the oceans for future generations.

In statements on the Initiative, the three partners all underscored the importance of a coordinated and targeted international response to protect the oceans from pollution, especially plastic pollution. They underlined the goal of the Clean Ocean Initiative to support the achievement of the SDGs, in particular SDG 14 (life underwater). AFD CEO Rémy Rioux underlined the importance of developing “new and courageous means to ensure that the oceans are safe from pollution and irreversible degradation”, and called for additional commitments. to protect the world’s oceans.

EIB President Werner Hoyer said the three partners had already collaborated on projects to reduce marine litter and the discharge of untreated sewage, and stressed that the Clean Oceans initiative will enable them to intensify their efforts and contribute to “the influx of private sector investment, developing innovative solutions to clean the oceans for future generations.” KfW CEO Günther Bräunig explained that the German Federal Government intends to integrate the 17 SDGs and the Paris Agreement on climate change into its sustainable development strategy, and that the protection of the oceans will be a key objective of its sustainable development model.

AFD, EIB and KfW announced the Initiative ahead of the Annual Meetings of the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group. [AFD Press Release] [EIB Press Release] [KfW Press Release]

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