World Bank Grants $20M to ASEAN for Marine Plastic Waste Reduction

The World Bank shows its support for efforts to reduce plastic waste being thrown into the region’s waters by giving a $20 million grant to ASEAN. 

The World Bank has said “The project aims to reduce plastic consumption, increase recycling, and minimize leakages to prevent land and sea-based marine plastic pollution. It will also support coastal and blue economies, which are particularly affected by marine litter and its effects on several key sectors — fisheries, tourism, and shipping,”

The World Bank’s executive directors gave the go signal for the grant financing last June 22.

According to the World Bank, it will work together with ASEAN secretaries plus country-level and regional-level partners to “strengthen policies and regulatory frameworks governing the production and use of plastics in Southeast Asia.”

The World Bank adds that “Southeast Asia has emerged as a hotspot for plastic pollution because of rapid urbanization and a rising middle class. The economic costs are significant, with the direct damage to key blue economy sectors in ASEAN member-states alone estimated at $2.1 billion in 2015. Further, the entire lifecycle of plastic, including its manufacturing and transport, creates billions of tons of greenhouse gas emissions,”

Ms. Manuela Ferro, World Bank Vice President for East Asia and the Pacific, has said that  “Reducing plastic pollution in the world’s rivers and oceans requires country-level action and collective, coordinated efforts. We are pleased to help ASEAN member-states work together to reduce marine plastics pollution and address the negative effect plastics can have on the economy, environment, climate, and health,”

Source: Inquirer