Home / Knowledge / News / Textiles / Africa PAFICOT 2014 budget increased to 4.2bn francs
Africa PAFICOT 2014 budget increased to 4.2bn francs
20
Mar '14
The budget for the Project to Support Textile and Cotton (PAFICOT) in the Western African countries of Mali, Benin, Burkina Faso and Chad, has been increased to 4.2 billion CFA francs for the year 2014, by the African Development Bank (AFDB), which is an increase of 141 percent compared to the budget approved for the year 2013, said the Minister of Rural Development of the Western African country of Mali, Bocary Tereta.

This information was revealed by the Minister during the 6th session of the Steering Committee of the project, held at the Office of the Upper Niger Valley (OHVN) in Mali, where the PAFICOT project which was initially designed for the period of 2008-2013 was extended for nine more months.

At the session, chaired by the Minister, several reports were presented which marked the continuation of implementation of rehabilitation of rural roads, discussing the general infrastructure for the continuation of the PAFICOT project, and financing activities that generate income.

Minister Bocary Tereta expressed concern regarding the considerable delay in the project due to low disbursement of resources, and he hoped that the PAFICOT can multiply the efforts to achieve the objectives of better rural roads in order to develop the textile and cotton industry in these countries.

Of the 4.2 billion CFA francs, 4.07 billion CFA francs would be granted by the AFDB, 116 million CFA francs by the respective Governments, and 23.09 million CFA francs by beneficiary participations.

The finances would be used to rehabilitate rural roads, further activities to promote improved seed production, research, as well as provide credit facilities for farmers for equipments.

The PAFICOT project was initiated in 2008 and aims to contribute to the reduction of rural poverty in these countries by increasing employment and income in these countries through improving the productivity of cotton and facilitating development of the textile industry.

The PAFICOT project was created by AFDB with support from the Conference of Ministers of Agriculture of West Africa and Central and West African Economic and Monetary Union (UEMOA) and the Cotton Producers Organizations (GPCs).

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Li & Fung

Textiles | On 24th Mar 2017

Li & Fung forms new supply chain partnership with PVH Corp

Li & Fung Limited, the world's leader in consumer goods design,...

Courtesy: Alizilla

Apparel/Garments | On 24th Mar 2017

Alibaba's eWTP finds first overseas base in Malaysia

In a step towards using the internet to bring small businesses around ...

Textiles | On 24th Mar 2017

BJMC to produce cotton-jute blended denim fabrics

To meet demand from the market, Bangladesh Jute Mills Corporation...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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:
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search