The international banking funding campaign algodeira not Burkina Faso

A syndicate of international banks will grant to Burkina Faso eur 65 million to finance his campaign cotton in the terms of a financing agreement to be signed in Paris, with the Company Burkinabe de Fibres Textiles (SOFITEX), announced Thursday diplomatic source in the French capital.

The loan campaign will serve for the acquisition of the cotton grain among farmers of the cotton, the transport of the product for all 15 plants of the peel of the SOFITEX and the evacuation of the cotton fiber to the embarkation ports of Côte d’ivoire, Togo, Benin and Ghana.

The credit will also allow for the acquisition and shipping of fertilizers, according to a press note of the Embassy of Burkina Faso in Paris, whose copy has been transmitted to PANA.

The cotton represents the first export product of Burkina Faso and ensures direct means of livelihood to over four million people, in addition to the five thousand employees of the SOFITEX.

Several production units of the oil feed are supplied in grains and olive oil and the SOFITEX represents the main supplier of raw material of the company FILSAH and weavers that confecionam the cotton emblematic of the ” Country of Men of Integrity “, which is the ” Faso Dan Fani “.

“The flow of money injected in a rural area with the acquisition of the cotton grain considerably reduces poverty. In addition to this advantage, it is proven that the culture of cotton stimulates the production of cereals, because the biggest producers of cotton are also the best producers of cereals”, underlines the chancellery burkinabe in their communiqué.

The campaign cotton from 2017 to 2018 culminated in a production of 563 thousand tonnes as compared to 544 thousand tons in the campaign of 2016 to 2017, thanks to the professionalism of the brave farmers of cotton, and to the dedication of all the staff of SOFITEX, adds the press release of the Embassy of Burkina Faso in France.

“Cotton is the lung of the economy of Burkina Faso. Supporting this production is the fight against poverty and food insecurity. Therefore, the support of the Polo International Banking to SOFITEX should be welcomed by fair value”, added the same source.