UNIDO, WTO spearhead $12bn West Africa cotton industry initiative [Yahoo! Finance]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
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Source: Yahoo! Finance
Corporation (ITFC) signed a Joint Declaration for the $12bn West Africa cotton investment during the WTO's 9th Global Review of Aid for Trade in Geneva. The initiative is part of the Partenariat pour le Coton and focuses on the Cotton Four countries Benin, Burkina Faso, Chad, Mali and Côte d'Ivoire. The key goals of the initiative include improving access to energy, enhancing skills, creating sustainable jobs, particularly for women and youth and supporting infrastructure projects to develop the cotton-to-textile/apparel value chain in the region. The involvement of financial institutions is expected to play a crucial role in unlocking investment opportunities and facilitating trade. WTO director general Ngozi Okonjo-Iweala described the initiative as a "once-in-a-lifetime opportunity" for West Africa's cotton and textile industry. She added: "I am happy with Gerd Müller of UNIDO and ITC and others as we are working to try and help them [Cotton Four] develop the cotton value cha
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