Clean Oceans Initiative 2.0 - Public Development Banks Coalition

Enriched UN / Multilateral · Found: 2026-03-11 10:59

EUR 3 billion campaign by public development banks including ADB to reduce marine litter with emphasis on waste prevention and circular economy. Includes $100 million financing package.

Source: https://adb.org/news/public-development-banks-launch-clean-oceans-initiative-2-0

Funding Details

Funder

Clean Oceans Initiative 2.0 (ADB, EIB, KfW, AFD, CDP, EBRD)

Funding Goal

Mobilize €3 billion ($3.4 billion) between 2026-2030 to combat ocean plastic pollution through waste prevention, circular economy, and marine litter reduction via public development bank financing.

Funding Amount

€3 billion ($3.4 billion) collective target for 2026-2030 across all six member development banks (up to 3.400.000.000 €)

How to Apply

There is no direct application process for external organizations. The Clean Oceans Initiative 2.0 is a coordinated commitment by six public development banks to allocate financing through their existing lending pipelines. Projects are identified, developed, and approved through each member bank's standard operational procedures. Governments and large entities in eligible developing countries work directly with the relevant development bank (ADB for Asia-Pacific, EIB/EBRD for Europe and neighboring regions, AFD/KfW for their respective mandates, CDP for Italian development cooperation) to access financing for ocean pollution-related projects.

Target Region

Global (developing countries), with emphasis on Asia-Pacific, Africa, and emerging economies

Official Page

https://www.adb.org/news/public-development-banks-launch-clean-oceans-initiative-2-0

Last Checked

2026-03-12 04:09

Application Checklist

Eligibility

• Funding is channeled through the six member development banks (ADB, EIB, AFD, KfW, CDP, EBRD) via their standard financing instruments — not direct grants to NGOs
• Applicants are typically sovereign governments, municipalities, or large private-sector entities eligible for development bank financing

Project Scope

• Projects must address ocean plastic pollution, marine litter, wastewater management, or circular economy for waste prevention

Required Documents

• Applications must go through the individual member bank's standard project pipeline and approval process

Constraints

• Projects must be in developing countries or emerging economies within the operational areas of the member banks
• COI 2.0 financing window runs from 2026 to 2030 with a collective target of €3 billion

Summary

The Clean Oceans Initiative 2.0 (COI 2.0) is a coalition of six public development banks — the Asian Development Bank (ADB), European Investment Bank (EIB), Agence Française de Développement (AFD), KfW, Cassa Depositi e Prestiti (CDP), and the European Bank for Reconstruction and Development (EBRD) — that was launched on June 10, 2025 at the United Nations Ocean Conference in Nice, France. The partnership aims to mobilize €3 billion ($3.4 billion) in financing between 2026 and 2030 to reduce marine litter, with a new emphasis on waste prevention and circular economy alternatives. The original Clean Oceans Initiative was launched in 2018 by EIB, AFD, and KfW and exceeded its €4 billion target seven months early. Completed projects included wastewater treatment improvements in China, Egypt, South Africa, and Sri Lanka, and solid waste management in Senegal and Togo. ADB joined COI 2.0 as a new member, bringing regional expertise in Asia where some of the highest amounts of plastic enter the ocean. Prior to joining, ADB's Healthy Oceans Program had mobilized nearly $4 billion in ocean investments from 2019-2024, with about 45% focused on waste and wastewater management. This is NOT a direct grant program for NGOs or civil society organizations. It is a coordinated financing commitment by development banks that deploy capital through their standard lending and investment instruments (sovereign loans, non-sovereign loans, blended finance) to governments, municipalities, and large-scale infrastructure projects in developing countries. Small NGOs cannot apply directly; the initiative funds large public-sector and private-sector projects through the member development banks' existing pipelines and application processes.

Historical Context

The original Clean Oceans Initiative was launched in October 2018 by EIB, AFD, and KfW with an initial €2 billion target. It was extended in February 2022 at the One Ocean Summit to €4 billion by end of 2025. The initiative exceeded this target seven months early. Completed COI 1.0 projects included wastewater treatment in China, Egypt, South Africa, and Sri Lanka, and solid waste management in Senegal and Togo. COI 2.0 was launched June 10, 2025 at the UN Ocean Conference in Nice, adding ADB as a new member alongside the expansion to CDP and EBRD which joined during COI 1.0. ADB's Healthy Oceans Program separately mobilized nearly $4 billion from 2019-2024.

Why it was added

SE Asia plastic waste/circular economy funding

Sources

• https://adb.org/news/public-development-banks-launch-clean-oceans-initiative-2-0
• https://www.adb.org/news/public-development-banks-launch-clean-oceans-initiative-2-0
• https://www.eib.org/en/stories/clean-oceans-initiative
• https://www.eib.org/en/press/all/2025-225-public-development-banks-launch-clean-oceans-initiative-2-0
• https://www.adb.org/what-we-do/themes/environment/ocean-finance
• https://www.eib.org/en/products/mandates-partnerships/clean-oceans-initiative
• https://www.eib.org/en/stories/clean-oceans-initiative-2
• https://www.afd.fr/en/clean-oceans-initiative
• https://www.afd.fr/en/clean-oceans-initiative-20

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