News:
November 9, 2020
As part of encouraging and supporting the development of a strong private fertilizer sector in the sub-region, the ECOWAS Commission has met with members of the West Africa Fertilizer Association (WAFA) in Mali.
This is in line with commitment that the Commission made to facilitate the development of a winning partnership between WAFA and the ECOWAS Investment Bank (EBID) for the funding of private sector fertilizer in the sub-region.
According to Sekou Sangare, Commissioner for Agriculture, Environment and Water Resources, processing of the dossier is well advanced at EBID and as a matter of fact, the mandate between WAFA and the bank has already been signed.
The Bank’s Board of Directors had also given a go-ahead for the establishment of a line of credit of nearly $520million, of which this amount would help finance among others fertilizer import projects, the purchase of trucks and other equipment for logistics and transport, and the construction of storage facilities.
A statement by the ECOWAS Commission noted that the high interest aroused by the initiative among partners, such as Germany and the Arab Republic, Commissioner Sangare encouraged WAFA members in Mali to speed up preparation and submission of relevant and bankable projects to EBID for financing.
He again, reiterated the readiness of the ECOWAS Commission to support any initiative aimed at the development of the private fertilizer sector particularly, and that of other development sectors in general.
WAFA was established by the will of fertilizer sector players in the region to join forces to meet the fertilizers challenges back in December 2015, but the desire to unite goes way back.
It aims to promote access to availability, affordability, timing and efficient use of quality and appropriate fertilizers among the farming population of West Africa.
Kwaku Sakyi-Danso/Ghanamps.com