World Bank highlights circular economy potential in Central Asia

World Bank highlights circular economy potential in Central Asia
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Ajay Banga 14th President of the World Bank Group | Official Website

The World Bank has released a new report titled "Circular Economy as an Opportunity for Central Asia," highlighting the potential benefits of adopting circular economy principles in the region. The report outlines three action plans focused on construction, agri-food, and urban management sectors, based on case studies from Kazakhstan and Uzbekistan.

The concept of a circular economy aims to reduce waste, conserve resources, and minimize environmental impact by keeping products and materials in use for as long as possible. According to the report, this approach could significantly benefit Central Asia by promoting resource efficiency and encouraging innovative sectoral policies.

Key findings indicate that while Central Asian countries are still in the early stages of implementing circular economy practices, there is substantial potential for growth. The report emphasizes the importance of sector-specific action plans to guide policy development and private sector involvement.

In Kazakhstan, opportunities exist to introduce circular business models within the construction value chain. The proposed action plan includes adopting relevant regulations, investing in infrastructure, creating collaboration platforms, and initiating pilot projects.

Uzbekistan's agri-food sector faces challenges such as low productivity, high post-harvest losses, water scarcity, and significant greenhouse gas emissions. The action plan for this sector aims to enhance resource efficiency and improve waste management practices.

For Almaty, Kazakhstan's largest city with around two million residents, the action plan addresses issues related to excessive waste generation and inadequate waste processing infrastructure across construction, industry, agriculture, and food processing sectors.

While the report provides insights specific to Kazakhstan and Uzbekistan, it calls for further research in other Central Asian countries to identify regional solutions for managing natural resources and waste effectively.

This publication was prepared with financial support from the Korea Green Growth Trust Fund (KGGTF) and the Global Program for Sustainability (GPS).