Interest-free loans to support waste electrical and lamp recyclers during Covid-19 crisis
(UK) – Up to £5million available for waste electrical and lamp treatment facilities.
The Waste Electrical and Electronic Equipment (WEEE) Fund has announced its WEEE Support Grants and Loans Package to support waste electrical and lamp recyclers during the Covid-19 crisis.
With many household waste recycling centres closed, and other waste electrical collections reduced, the flow of electricals and lamps for recycling has significantly reduced. The new facility will provide up to £5million of interest-free loans to waste electrical and lamp treatment facilities.
The loan finance derives from the WEEE Compliance Fee, which is paid by WEEE schemes that do not meet their WEEE collection targets.
Scott Butler, Executive Director of the WEEE Fund said: “This is a fund that has been made available to provide rapid help and support the electrical waste recycling sector as a result of the impact of the coronavirus. The loads will be 100% backed by the WEEE Fund, funded by producers of electricals.”
Environment Minister Rebecca Pow continued: “Right across the waste sector, 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.”
Recolight has previously contributed to the fund that finances the loans. CEO Nigel Harvey added: “Recolight has worked hard to help set up this new loan scheme. When the coronavirus restrictions are lifted, the WEEE system will need a dynamic and competitive WEEE recycling market, with the capacity to cope with any post-crisis spike. The loans should help to minimise the risk of WEEE recycling business closures, and a rapid start-up of operations when this is required.”
