THE world's leading Multilateral Development Banks (MDBs) are stepping up their cooperation to promote the circular economy. The banks announced their combined effort at the World Circular Economy Forum (WCEF2023) in Helsinki.

'Until now, financing for circular economy projects has remained marginal. Now we want to change that. Developing the capacity and tools for the proper assessment of circular economy investment will require collaboration between financial institutions. The financing of innovation is particularly important to support the emergence of circular economy solutions,' said Ambroise Fayolle, vice president of the European Investment Bank (EIB).