World Bank supports Ghana with $13m grant to develop plastic recycling economy

Ghana’s quest to ensure a sustainable environment which hinges on recycling and reuse of plastic materials has been handed a major boost by the World Bank.

This follows a $13 million grant from the Bretton Wood institution through its programme ‘PROBLUE’.

This was disclosed by an advisor to the Minister of Environment, Science, Technology and Innovation, Oliver Boachie at a workshop organised by the World Bank.

PROBLUE is a multi-donor trust fund, administered by the World Bank to support the sustainable development of marine and coastal resources as well as eradicating plastic waste.

The workshop was to assist government to develop a framework which will promote an economic system based on the reuse and regeneration of materials or products, as a means of continous production in a sustainable or environmentally friendly way.

Speaking to Joy Business on the sidelines of the programme, Mr Boachie said the fund will help Ghana develop a system where players in the plastic production and usage space will be giving more responsibility in the use of recycled products.

“The World Bank is helping us develop a framework establishment together with an EPR (Extended Producer Responsibility) scheme which addresses Ghana’s needs.”

He further stressed the need to develop tailored policies which suit Ghana’s culture and socio-economic landscape.

Economist at the World Bank, Grzegorz Peszko, urged government to consider tax incentives which will make the usage of recycled plastics affordable.

According to him, introducing tax incentives for companies that use recycled plastics will encourage the usage of recycled plastics.

“Ghanaian producers don’t see the incentives to use the recycle content because Europe has policies in place; virgin plastic taxes on packaging. More and more European countries can introduce these taxes. It means that plastic products made from recycled content are cheaper and the difference is the tax.”