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COVID-19 Fund for Electrical Waste Recycling Sector

Thursday, 21 May 2020

Interest-free loans are being provided for electrical waste treatment facilities in the UK.

The Waste Electrical and Electronic Equipment Fund (WEEE Fund) has announced a support package for the electrical waste reuse and recycling sector in light of the coronavirus (COVID-19) outbreak.

Electric and electronic waste, which requires specialist recycling, is one of the fastest-growing waste streams in the UK, and the shutdown of specialist facilities during the pandemic has had a significant impact on the industry.

This programme will help support the continuation of the reuse and recycling system as the sector deals with the negative impact coronavirus is having.

£5 million worth of interest-free loans are being offered to support the UK's electrical waste treatment facilities. Levels of individual loans have not been specified. The loans will be 100% backed by the WEEE Fund. Half of any loans will be made available by the end of May and the remainder three months later.

The initiative will also include £600,000 of grants for charity-sector reuse organisations. The application process for the grants will be confirmed shortly.

Environment Minister Rebecca Pow said:

'I'm hugely grateful to the enormous effort being put in to keep crucial services running; and in such unprecedented times I understand the pressure the industry is under.

'‘This fund will help the sector to weather the effects of the coronavirus outbreak. Crucially it will also enable people to do the right thing and recycle more as we move towards a more circular economy.'

Applications for the loans are open until the end of May 2020.

Applicants can request the application form and associated documents by emailing info@weeefund.uk

News Article From: Kirklees 4 Business | OPen 4 Business

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