(Ecofin Agency) - Société burkinabè des fibres textiles (SOFITEX) has been granted a CFA42.6 billion (€65 million) loan by an international banking pool of Société financière internationale (SFI), BNP Paribas and Société générale.   

The loan, materialized by a funding agreement signed on January 12, 2018, in Paris, carries a 3.7% interest rate and, is repayable within 12 months.

It marks the end of the funding cycle of the 2017/2018 cotton campaign by SOFITEX which has also been granted various loans such as the CFA70 billion loan by a national banking syndicate made of 12 institutions.

The country has chosen to use only conventional seeds during the present campaign and expect 563,000 tons of cotton.

Espoir Olodo