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

Fresh Mango

Mali

Published Feb 20, 2021

Tridge summary

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.

Original content

“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 Mali - to modernize its production facilities using new equipment capable of increasing mango collection capacities. Likewise, it will connect 1,000 new farmers to the Centre's supply chain (already 2,000 farmers strong) and create 300 direct and indirect jobs. This new partnership will also provide the Center with permanent working capital which will enable it to increase its exports of mango puree and ...

Source: Commodafrica