Mkcf Bridging The Financing Gap: Plastics Circularity Infrastructure

Please note that the deadline is based on Korean Standard Time Zone (KST, UTC+9)_

**INTRODUCTION TO GGGI**:
The Global Green Growth Institute (GGGI) is a treaty-based international, inter-governmental organization dedicated to supporting and promoting strong, inclusive and sustainable economic growth in developing countries and emerging economies. To learn more please visit about GGGI web page.

**PROJECT BACKGROUND**:
Mekong-Republic of Korea (ROK) Cooperation on Bridging the Financing Gap for Plastics Circularity Infrastructure through Bankable Projects, Policy, and Knowledge Sharing (the “MKCPC” or the “Program”) is a 2.5-year, USD 1 million regional project aimed at developing a functional market for recycled plastic waste that would result in the financing of plastic waste management infrastructure at scale, enhancing the readiness of the sector and contributing to plastics circularity in the Mekong region, with an initial focus on Thailand. The program seeks to achieve this objective through the following three interventions (i.e., outputs):

- Output 1. Development of two (2) bankable plastic waste management projects with a minimum target investment mobilization of USD 50 million
- Output 2. Policy recommendations to address the financing gap for plastic waste management projects
- Output 3. Regional capacity building and knowledge sharing on addressing the plastics circularity financing gap

Problem statement and Thailand plastic waste overview

The Mekong region has undergone remarkable economic growth in the past 30 years, driven by industrialization of supply chains to rapid urbanization as middle-income countries with more people living in cities. Urban households typically adopt lifestyles that involve greater consumption of goods and services compared to residents in rural areas. These factors result in a sharp increase in the generation of waste over the years from to roughly 55M tons per year.

Proper management of municipal solid waste (MSW) is one of the key challenges facing governments in the region, including Thailand, whereby the majority of municipal solid waste are disposed of in open (unregulated) dumpsites and unsanitary landfills. Specifically, in 2023, Thailand generated about 27 million tons of MSW. Only 34% of which were reused, while the rest were either properly disposed of or mishandled (i.e., waste that is inadequately disposed of and not formally managed).

Plastics poses a serious transboundary issue given its decomposing timeframe of hundreds of years. In Thailand, recycling plastics is yet to be implemented in a systematic manner at scale throughout the country. Coupled with a high rate of mismanaged waste, this means most plastics end up in dumpsites, landfills, or as riverine debris in the Mekong River. In Thailand, the top three usage of plastic resins are packaging products (41%), electrical and electronic appliances (16%), and construction (15%) as of 2020.

In 2023, 3.03 million tons of waste were single-use plastics (SUPs), constituting c. 11% of the total MSW generated. Out of this, only about 25% of SUP waste gets sorted and recycled. Single-use plastics remained the dominant pollutant, encompassing items like food bags, handle bags, and thin plastic film.

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**OBJECTIVE OF THE ASSIGNMENT**:
To achieve Output 1, this assignment involves identifying a bankable investment pipeline of plastic waste projects that could benefit from GGGI support through technical assistance and/or external financing from investors, banks, or other financial institutions via corporate or project finance structures.

The investment pipeline scope includes waste collection hubs, transfer stations, material recovery facilities, and plastic recycling plants nationwide. Waste collection, including sites for pre-treatment or pre-sorting, can reduce strain on existing facilities and, when equipped with modern compactors, improve collection and transport logistics while reducing operational costs and truck-related GHG emissions.

This assignment aligns closely with Thailand's National Solid Waste Management Master Plan (2016-2021), the Thailand Roadmap on Plastic Waste Management (2018-2030), and the new Action Plan on Plastic Waste Management Phase II (2023-2027).

The consultant shall perform the following tasks:
1. Longlist of investment pipeline opportunities (minimum 10 projects). The consultant shall conduct an initial screening of potential developers through two complementary methods:
a) _Desktop research_: Leverage plastic material flow analysis to identify provinces and sites with the highest potential. Developers active in these areas shall then be screened against technical and financial track records, reliability of feedstock supply, amongst other criteria (to co-developed with GGGI).

b) _Request for expression of interest (REOI)_: Conduct outreach through industry associations and networks to identify additional bankable opportunities and verify developer credibility and