Combat Ocean Plastic [blended finance partnership]
-
Category:
Program
-
Keyword:
ocean, plastic
-
Stage:
2018 - Now
- National Partners:
- International Partners:
- Contact
Brief Innovation
Circulate Capital, an investment management firm dedicated to incubating and financing companies and infrastructure that prevent ocean plastic in South and Southeast Asia (SSEA), announced a blended finance partnership with the U.S. Agency for International Development (USAID) to combat ocean plastic pollution. Through this new agreement, USAID will provide up to a $35 million, 50 percent loan-portfolio guarantee through the Development Credit Authority (DCA) to incentivize private capital investment and new business development in the recycling value chain in South and Southeast Asia. The public sector support from the USAID partnership enhances the private sector support that Circulate Capital has received to combat ocean plastic, which is more than $100 million committed by the world's leading corporations, including PepsiCo, the first investor; Procter & Gamble; Dow; Danone; Unilever; and The Coca-Cola Company. At least 50 percent of the total investments covered by the USAID guarantee will be used for loans in Indonesia, the Philippines, Vietnam and Sri Lanka where USAID's Municipal Waste Recycling Program supports local partners in reducing ocean plastic pollution.
Overview
| Category: | Program |
| Keyword: | ocean, plastic |
| Donner: |
USAID (USD 35 million) |
| National Partners: | |
| International Partners: | |
| Location(s) in Vietnam: | Country level |
| Location(s) in Other countries: | Indonesia, Philippines, Sri Lanka |
| Stage: | 2018 - Now |
| Total budget: | USD 100 million |