(Ecofin Agency) – The French Development Agency says it will disburse CFA26.2 billion to (€40 million) support the Ivorian cotton industry. The sector posted good production results in recent years and wants to maintain the trend.
The amount will be pumped into the Resilience of Cotton Systems (Resco) project. The financing agreement was initialed on April 29 by Ivorian Economy Minister Adama Coulibaly, Budget Minister Moussa Sanogo and French Economy and Finance Minister Bruno Lemaire.
Covering the north of the country, the initiative aims to promote best agro-ecological practices to improve the sustainability of the sector and help producers adapt to the effects of climate change. Actions planned include strengthening agricultural research and advice, building rural roads, setting up processing facilities and storage equipment. The project will be implemented by Intercoton, the main interprofessional organization in the sector, and will benefit 120,000 farmers.
Overall, this support should strengthen the Ivorian cotton sector, which has been growing steadily for a decade. The country is now the second-largest cotton producer in Africa behind Benin, with a harvest of more than 500,000 tons in 2020/2021.
The sector employs around 110,000 farmers.