The Philippine economy is losing $790 to $890 million a year in terms of potential material value of recycled plastics, according to a new World Bank paper.

Released on Tuesday, the Washington-based multilateral lender’s paper titled “Market Study for the Philippines: Plastics Circularity Opportunities And Barriers” said that of the 1.1 million tons per year of the four key plastic resins in the Philippines consumed in the Philippines, only 28 percent are being recycled.

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