Home / Knowledge / News / Textiles / Cameroon President signs decree for funding cotton season
Cameroon President signs decree for funding cotton season
14
Nov '13
The President of the west Central African country of Cameroon, Paul Biya, has signed a decree authorizing the Minister of Economy of the country, Emmanuel Nganou Djoumessi, for a loan agreement of €13 million with the Islamic Trade Finance Corporation (ITFC), a subsidiary of the Islamic Development Bank (IDB), in order to finance the 2013-14 cotton harvest period in the country.
 
According to a statement issued by the President’s website, the loan would be utilized by the Society of Cotton Development (SODECOTTON) of Cameroon for financing the next season of cotton harvest in the country.
 
The Decree No. 2013/404, signed by the President on November 8, 2013, states that The Minister of Economy, Planning and Regional Development, is empowered with the right to delegate and sign with the ITFC, a loan agreement to the tune of €13 million (8 billion CFA francs) to finance 2013-14 cotton season in the country.
 
In January 2013, for the previous cotton harvest period, the SODECOTTON had benefitted from 5 Cameroonian banks, which provided a credit of 15 billion CFA francs, under the leadership of Commercial Bank of Cameroon (CBC), to the agency for cotton harvest.
 
In September 2013, The National Confederation of Cotton Producers of Cameroon (CNPCC) has planned to achieve the target of growing 260,000 tons of cotton for the harvest period of 2013-14, and launched a cotton harvest campaign in the country from October.
 
During the 2012-13 harvest period, Cameroon was able to achieve around 230,000 tons of cotton which was less than the projected cotton output of 250,000 tons, owing to heavy rains because of which large areas of cultivation in the country were destroyed.
 

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 28th Apr 2017

Continue existing Duty Drawback, ROSL scheme post GST: TEA

Tiruppur Exporters' Association (TEA) has made requisitions to...

Courtesy: AAFA

Fashion | On 28th Apr 2017

Andrew Rosen, Stuart Vevers among AAFA awardees

Andrew Rosen, founder and CEO of Theory, Stuart Vevers of Coach, Nick ...

Textiles | On 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X