More News

News

Cashew nut sector in Côte d'Ivoire: the boost from the World Bank

Cashew nut sector in Côte d'Ivoire: the boost from the World Bank

April 12, 2018

 

The World Bank promised yesterday to grant a loan of 200 million dollars to Côte d'Ivoire. The main objective is to help the country boost the cashew nut sector, one of the pillars of the Ivorian economy.

 

According to local media reports, the loan is expected to help fund cashew nut processing, which has so far been estimated at 6 percent. Quit ending this essentially export-oriented policy, because cashew is so far the third largest export ($ 800 million) behind cocoa and oil.

 

However, "cashew is one of the main sources of income for small farmers in Côte d'Ivoire (...). This sector concerns about 2 million people, mainly in the poorer north of the country, where it has become the main source of money income in rural areas, "said Pierre Laporte, director of operations of the World Bank for Côte d'Ivoire. Ivory.

 

And according to the banking institution more than 225,000 producers will be positively impacted by the project in that it is expected to generate nearly 12,000 jobs, 50% of which will benefit women.

 

Source:fr.africanews.com/