New Delhi, India, April 08, 2013—
IFC, a member of the World Bank Group, is launching an initiative in partnership with eWaste asset management and recycling company Attero to collect and responsibly recycle eWaste through an inclusive approach that integrates informal waste collectors in an organized network.
A United Nations report projects that by 2020, eWaste from computers would dramatically increase by 500 percent and that from discarded mobile phones will increase 18 times from 2007 levels in India. Informal workers currently collect; dispose and recycle majority of eWaste. As part of the Clean E-India Initiative, franchisees will partner in this project and work with informal last mile collectors who will also get trained in efficient eWaste collection and disposal.
“Two conditions in India can make it the leader in responsible eWaste management,” said Nitin Gupta, CEO & Co-Founder of Attero. “One is government policy of 2012 that encourages responsible recycling, and the second is the advanced technology we have developed and patented to recycle electronic assets in an eco-friendly manner that also brings high economic value.”
At an event, organized jointly by Attero and IFC titled Sustainable Solutions for eWaste in Emerging Markets, participants discussed how India can lead in finding a lasting solution to the rapidly growing eWaste problem.
Nena Stoiljkovic, IFC Vice President for Advisory Services , said, “Increased land and water contamination due to improper disposal poses health risk to informal waste collectors, making it a compelling case for IFC. The lessons learned can also be applied to the solid waste management sector.”
The project will set up collection centers and raise public awareness about proper disposal of electronic and electrical assets. This integrated program will be launched in four cities -- Delhi, Mumbai, Ahmedabad, and Hyderabad. More than 15 leading producers including Wipro, Samsung, Voltas, Acer, Videocon, and Haier are supporting this initiative.
This project aligns with IFC’s strategy of inclusion and climate change. IFC had earlier made an investment of $ 5 million to help Attero develop and provide a complete range of recycling of electronic and electrical assets.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org
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