ECOWAS to put in place a $520mln credit line to develop fertilizer industry in West Africa

Agriculture
Thursday, 19 November 2020 13:08
ECOWAS to put in place a $520mln credit line to develop fertilizer industry in West Africa

(Togo First) - ECOWAS plans to support the private fertilizer sector in West Africa, through its investment and development bank, the EBID. 

Talks were held between the EBID and the West African Fertilizer Association (WAFA), with a focus on providing the region a $520 million credit line - A line which the board of directors of the EBID had already approved. 

Part of the funds should help finance projects to import fertilizers, buy trucks, and other logistics and transport equipment. Another part should be used for building storage facilities in the ECOWAS States. 

Established in 2016, the WAFA brings together actors engaged in the fertilizer industry in the region and represents ECOWAS member States. To date, most of the fertilizers used by small scale farmers in West Africa pass through the association.

 
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