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France pledges investment to boost sustainable cotton in Ivory Coast

France pledges investment to boost sustainable cotton in Ivory Coast

ANGE ABOA  FRANCE’S development agency will invest 68.5 million euros ($83.04 million) over the next five years to boost cotton production in Ivory Coast, economy minister Bruno Le Maire said during a visit to the West African country on Thursday. Le Maire said the programme will target 120,000 cotton farmers in the northern region of the country and boost revenue in the cotton sector, benefiting the Ivorian economy. The country produced 490,000 tonnes of cotton in the 2019/20 season and 2020/21 output is forecast at 500,000 tonnes by the agriculture ministry. France's aid pledge comes as the European Union (EU),…
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Mozambique’s economy facing multiple risks

Mozambique’s economy facing multiple risks

MOZAMBIQUE’S economy faces multiple challenges, including a growing insurgency against the government and recurring extreme weather events, rating agency S&P Global said in the research report. S&P said militant attacks in Mozambique's northeastren province of Cabo Delgado posed a "significant threat" to production facilities there, touted as among the biggest natural gas discoveries in the world. Dozens of civilians were killed last month in Islamic State-linked attacks in the coastal town of Palma, near gas projects that are worth $60 billion and are aimed at transforming the country's economy. S&P, which ranks Mozambique's foreign debt at CCC+, seven rungs below…
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