Together, the World Trade Organization (WTO) and the United Nations Industrial Development Organization (UNIDO) are planning to raise $12 billion for sustainable cotton production in Africa. Resources for the textile and cotton sectors in developing countries—especially the Cotton Four nations of Benin, Chad, are the focus of this initiative.
The joint declaration that was signed in order to mobilize investor capital was a major turning point in this initiative. UNIDO, the World Trade Organization, the International Islamic Trade Finance Corporation , and other financial organizations are participating in this collaborative initiative.
“Our combined aim is to encourage fair and sustainable local cotton processing to promote decent jobs and economic development in the region. UNIDO is committed to using its experience to enhance local cotton value addition and foster the expansion of a complete, environmentally friendly textile industry.
“West Africa is on the edge of a historic chance in the cotton and textile sector,” said WTO Director-General Ngozi Okonjo-Iweala. In order to assist the Cotton Four nations in developing their cotton value chains, we are collaborating closely with UNIDO, ITC, and other partners.
