$45 million to support cotton farmers in Burkina Faso
The Global Warehouse Finance Program (GWFP) lends or provides risk mitigation solutions to banks in low income countries which in turn provide lending to small farmers and small businesses. These loans are backed by the harvested goods farmers deposit in warehouses.
This project aims to finance the working capital of Sofitex, a strategic agriculture company that controls 80% of cotton production in Burkina Faso, to purchase raw cotton from farmers and export to international buyers. The project is a one year committed fully secured pre-export facility for Sofitex.
The GAFSP Public Sector Window also funds the Sustainable Water Management and Food Security Project (PAMEDAD) in Burkina Faso.