EU allocates 3.7 million euros to support Lebanons green and circular economy

3^min

In a bid to promote sustainable practices and foster green and circular production in Lebanon, the European Union (EU) has committed 3.7 million euros to fund the 2CIRCULAR project.

This initiative is being implemented by the United Nations Industrial Development Organization (UNIDO) in partnership with the Ministries of Industry, Economy and Trade, Environment, and Finance, and in partnership with the Association of the Lebanese Industrialists (ALI) and the Federation of the Chambers of Commerce, Industry, and Agriculture (FCCIAL).

The 2CIRCULAR project aims to create a transformative impact by partnering with over 50 food and beverage companies in Lebanon. Its main objective is to establish green and circular production momentum, encouraging businesses to adopt sustainable practices and prioritize resource efficiency.

As part of the project's intervention, a total of EUR 280,000 will be awarded in the form of in-kind grants of 15k and 40k to ten companies demonstrating their ability to become resource-efficient and circular economy champions in the country.

Building on the success of the EU-funded MED TEST program, which has already supported 15 Lebanese companies, the 2CIRCULAR project seeks to advance investments in resource efficiency and cleaner production techniques.

By focusing on the food and beverage industry, 2CIRCULAR will take a step further and support the development of five innovative circular business models while facilitating access to finance for Small and Medium-sized Enterprises (SMEs).

Implementing the proven UNIDO methodology will empower partner companies to achieve significant cost savings, enhance competitiveness, reduce their environmental footprints, and gain improved access to international markets. Particularly in times of economic downturn, investments in low-risk, short-term innovation aimed at cutting costs are considered crucial for countries to emerge stronger.

Lebanon faces considerable environmental challenges, including air and water pollution and waste management issues. In response, the 2CIRCULAR project aims to address these pressing concerns by promoting sustainable business practices and encouraging circular models that prioritize cost-cutting measures, resource efficiency, and waste reduction.

The impact of this project is expected to be substantial, with positive implications for Lebanon's economy. It will generate new employment opportunities and enhance the country's competitiveness in the global market. Furthermore, the project will contribute to environmental preservation by reducing waste and pollution while promoting the utilization of renewable and green energy sources.

The 2CIRCULAR project will continue its implementation until the end of 2025, with stringent monitoring and evaluation processes to ensure its objectives are successfully met.