Ivorian Government Grants $54 Million Subsidy to Cotton Industry
By Emmanuel Tumanjong
Special to Dow Jones Newswires
Ivory Coast’s government said Friday it is subsidizing the West African nation’s cotton industry with 32.52 billion CFA francs ($54.4 million).
The support comes after a hard season for the cotton industry due to insect infestations that damaged the crops, said Agriculture Minister Kouassi Kobenan Adjoumani.
“This financial support comes to free us,” said Moussa Soro, president of the country’s cotton producers’ federation, or Intercoton.
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(END) Dow Jones Newswires