IFC lends € 2 million to CEDIAM to support the mango sector in Mali

Published 2021년 2월 19일

Tridge summary

The International Finance Corporation (IFC) has provided a €2 million loan to the Center for Industrial and Agricultural Study and Development of Mali (CEDIAM) to boost the firm, create jobs, and enhance the productivity of mango production in Mali. The loan will be used to modernize CEDIAM's production facilities, connect 1,000 new farmers to its supply chain, and create 300 jobs. It will also provide CEDIAM with working capital to increase mango exports and improve the competitiveness of Malian mangoes in the international market. The partnership will also establish a technical assistance program to help CEDIAM with governance, financial management, and environmental risk management, and provide farmers with training to improve their farming practices.

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Original content

The International Finance Corporation (IFC) announced yesterday the disbursement of a loan of € 2 million in favor of the Center for Industrial and Agricultural Study and Development of Mali (CEDIAM) in order to support the development of the firm, create jobs, facilitate producers' access to markets and increase mango production, as well as exports, underlines the statement from the Financial Institution. “This partnership will help our business become more modern, more sustainable and more profitable. It will help increase local mango production and processing in Mali, and will benefit all actors in the value chain, ”says Diadié Sankaré, President of CEDIAM. More specifically, this new line of credit is made up of a € 1 million facility granted by IFC and a concessional loan of € 1 million also granted by the Private Sector Window of the Global Agriculture and Food Program. food security (GAFSP). This loan will help CEDIAM - presented as the largest mango processing industry in ...

Source: Commodafrica