€10 million for Benin’s cotton industry
06/10/2009
The European Commission has signed an agreement with Benin to support the cotton sector there, official sources in African country have said. The contract amendment will mean “readjustments” to a financing agreement signed in November 2007.
The project, which has a value of EUR 10 million, will help improve the cotton sector’s competitiveness and contribute to poverty reduction.
Benin’s cotton industry is in the process of becoming privatised, but the West African nation is also setting up its own Company for Cotton Development to promote crops in overseas markets. The EU funding will also contribute to the publication of a formal reform programme for the cotton sector.
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