The United Nations Industrial Development Organisation (UNIDO) has partnered with the World Trade Organisation (WTO) in order to develop a strategy with the aim of raising significant capital for the production of sustainable cotton production across Africa
The initiative – which follows the WTO’s 9th Global analysis for Aid for Trade – is aimed at mobilising investment financing and includes UNIDO, WTO, ITC and Afreximbank. Other financial bodies include Africa Finance Corporation (AFC) and the International Islamic Trade Finance Corporation (ITFC).
“Our combined aim is to encourage fair and sustainable local cotton processing to promote decent jobs and economic development in the region,” said UNIDO Director General Gerd Müller. “UNIDO is devoted to leveraging our knowledge to enhance local value addition in the cotton sector and support the growth of a comprehensive and sustainable textile industry.”
WTO director-general Ngozi Okonjo-Iweala, added, “West Africa is on the brink of a historic opportunity in the cotton and textile sector. We are working closely with UNIDO, ITC, and other partners to assist the Cotton Four countries in expanding their cotton value chains.”
US$12bn to bolster sustainable cotton production in Africa
The initiative aims to mobilise US$12bn for the cotton four countries (Benin, Burkina Faso, Chad and Mali) as well as Côte d’Ivoire. (Image source: Adobe Stock)
