Original disclosure @ IFC website
Updated in EWS May 10, 2022
Disclosed by Bank Dec 21, 2020
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The Project is a funded risk participation for up to EUR 15 million by IFC in a EUR 40 million one-year secured pre-export facility provided by Societe Generale to finance the purchase of seed cotton and provide working capital to Societe Burkinabe des Fibres et Textiles (SOFITEX), a cotton company in Burkina Faso (the “Obligor”).
The most significant, expected project-level outcome is continued access to markets and finance for over 32,889 farmers and increases in productivity for 1,557 farmers. Beyond the project, IFC anticipates the investment will increase integration and resilience in the cotton sector in Burkina Faso, a low income/IDA country, through capacity building and demonstration and replication effects.
No contact information provided at the time of disclosure
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