A pool of national banks, led by Ecobank, would lend 75 billion CFA francs (about US$ 150 million) to Burkina Faso Fibres and Textiles Company (SOFITEX), local media reported.
A pool of national banks, led by Ecobank, would lend 75 billion CFA francs (about US$ 150 million) to Burkina Faso Fibres and Textiles Company #
The loan is intended to support 2013-14 cotton production in Burkina Faso, including transportation, ginning, marketing and payment to cotton farmers, according to the agreement.
A pool of national banks, led by Ecobank, would lend 75 billion CFA francs (about US$ 150 million) to Burkina Faso Fibres and Textiles Company #
In the previous season, the domestic banks contributed 70 billion CFA francs to SOFITEX.
A pool of national banks, led by Ecobank, would lend 75 billion CFA francs (about US$ 150 million) to Burkina Faso Fibres and Textiles Company #
Since 2010-11 season, SOFITEX’s cotton production has continuously increased. From producing 280,000 tons of cotton in 2009-10 season, SOFITEX’s production increased to 330,000 tons in 2010-11, 500,000 tons in 2011-12, and to 550,000 tons in 2012-13.
A pool of national banks, led by Ecobank, would lend 75 billion CFA francs (about US$ 150 million) to Burkina Faso Fibres and Textiles Company #
With 16 cotton ginning factories, SOFITEX is the largest of the three cotton companies in Burkina Faso.
A pool of national banks, led by Ecobank, would lend 75 billion CFA francs (about US$ 150 million) to Burkina Faso Fibres and Textiles Company #
Last month, SOFITEX received a grant of €100 million (approx 65 million CFA francs) from an international banking syndicate, led by HSBC bank, as funding for its next cotton campaign in the upcoming harvest season.
A pool of national banks, led by Ecobank, would lend 75 billion CFA francs (about US$ 150 million) to Burkina Faso Fibres and Textiles Company #
Fibre2fashion News Desk - India
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