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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

EIB lends US$3.6bn to circular economy projects

In 2022, US$1.18 billion (€1.1 billion) was lent for circular economy projects. (WAM)
  • EIB has been building partnerships with multilateral development banks and civil society organizations to accelerate the transition to a circular economy.
  • EIB said there can be no transition to a carbon-neutral economy without a change to a circular economy where resources are in use for as long as possible.

BRUSSELS, BELGIUM – The European Investment Bank (EIB) lending to circular economy projects has consistently increased over the years, amounting to US$3.6 billion (€3.4 billion) over the past five years, with a record level of US$1.18 billion alone in 2022.

The figures were released ahead of the World Circular Economy Forum 2023 (WCEF 2023), to be held from May 30  to June 2 in Helsinki, Finland.

Nevertheless, the financing gap remains huge: for the plastics recycling sector alone, the EIB study ‘Cutting plastics pollution – Financial measures for a more circular value chain’ found an estimated investment gap of at least US$7.1 billion to achieve Europe’s plastics recycling targets.

The EIB has also been building strong partnerships with multilateral development banks and civil society organizations to accelerate the transition to a circular economy.

EIB Vice-President Ambroise Fayolle, responsible for financing environment, climate action and the circular economy, said, “It is very clear today that there can be no transition to a carbon-neutral economy without a transition to a circular economy, one where we keep resources in use for as long as possible and significantly reduce waste.”

He said, “Financial institutions have an important role to play as one of the drivers of the transition to the circular economy.”

He added, “In the last five years, the EIB provided US$3.6 billion to co-finance 118 circular economy projects in a variety of sectors and stands ready to do more to help meet the lending needs of its partners in this domain.”