The Asian Infrastructure Investment Bank (AIIB) and the Alliance to End Plastic Waste (AEPW) have launched a co-financing initiative to enhance solid waste management services in over 10 cities and districts in Indonesia. Jacob Duer, AEPW President and CEO, and Rajat Misra, AIIB Acting Vice President, signed a Letter of Intent for the initiative.
This collaboration enables AEPW to provide concessional resources for AIIB’s Solid Waste Management for Sustainable Urban Development Project in Indonesia, making AEPW AIIB’s first private partner through its Project-Specific Window. Misra highlighted the importance of this partnership for advancing sustainable development, particularly in strengthening solid waste management capacity at the national and subnational levels.
The project, aligned with climate goals and circular economy principles, will provide waste management services for over 9 million people, focusing on infrastructure, capacity-building, and community engagement. AEPW’s $21.5 million investment complements AIIB’s planned $150 million over the next five years, promoting a circular economy to tackle plastic waste. This financing also includes a USD2 million grant from AEPW for developing best practices in waste management solutions.
