Over the next four years, two new initiatives will provide technical and financial assistance to the most promising circular economy ideas. Together, DEFINITE-CCRI and CircularInvestwill support circular systemic solutions and secure up to €100 million investments. Both projects are funded under the European Commission’s Programme for Research and Innovation “Horizon Europe” and will assist the Circular Cities and Regions Initiative (CCRI) in implementing circular economy strategies across European cities and regions.

“The transition to circular economies in cities requires business and finance models to foster the conversion of waste material into useful products. Our project development mechanism will help project owners develop robust and trustworthy circular schemes, able to leverage investment" explains Roman Mendle, Coordinator of the Sustainable Resources, Climate and Resilience team at ICLEI and Coordinator of Definite-CCRI.

Several cities, including Ghent (Belgium) and Lappeenranta (Finland), have already expressed their interest in participating as pilot cases. Project owners will have the chance to submit their application to enter the Project Development Assistance (PDA) mechanisms over the course of 2023. More information on the calls for expression of interest will be published on the CCD channels by spring.