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Banks lend cotton body Fr 6.5bn to pay farmers
18 Mar '11
1 min read
Four banks based in Cameroon, in conjunction will lend 6.5 billion CFA francs ($13.7 million) to the Cotton Development Corporation.
This money will be used by the corporation to pay farmers and fund fertilizer and pesticides purchases, says a statement from the cotton company.
Afriland First Bank and Societe Generale SA's unit will lend two billion francs each, Banque Internationale du Cameroun pour l'Epargne et le Credit will give 1.5 billion francs and Commercial Bank Cameroon will lend one billion francs,
This money will be used by the corporation to pay farmers and fund fertilizer and pesticides purchases, says a statement from the cotton company.
Afriland First Bank and Societe Generale SA's unit will lend two billion francs each, Banque Internationale du Cameroun pour l'Epargne et le Credit will give 1.5 billion francs and Commercial Bank Cameroon will lend one billion francs,
Fibre2fashion News Desk - India
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