Paris — IFC, a member of the World Bank Group, announced the signing on Friday, January 12, 2018, of a €65 million financing facility with Société Burkinabè des Fibres Textiles (SOFITEX) to finance the 2017-2018 cotton campaign in Burkina Faso. IFC will finance €28.5 of the facility, while Société Générale will also provide €28.5 million and BNP Paribas an additional €10 million financing.
The facility will allow SOFITEX to buy cotton from its producers, gin, it and convey it to the Abidjan, Cotonou and Lomé ports, from where it will be exported to international markets.
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