The signature of loan convention between Sodecoton and a pool of banks took place on Tuesday in Yaounde.

This year, the Company of Development of Cotton (Sodecoton) intends to produce 265,000 tonnes of cotton; 25,000 more than what was produced in 2014. It is as a result of this plan that it has obtained a financing of 36.5 billion F for 2015.

The signature of loan took place on Tuesday between Sodecoton and a pool of banks including; CBC, Afriland First Bank, Bicec, Ecobank and SGC.

At the time of the ceremony, the general manager of Sodecoton, Abdou Namba, declared that, "Sodecoton is the first creator of job in the septentrional areas of the country." He in addition wished for the relaxing of procedures of the public markets, the subsidy of the agricultural entrants to make it possible to detach from the coalfields. And to add to the place of the pool of banks," We count on you to achieve the goal of 600,000 tonnes of cotton by 2020".

The Minister for Agriculture and Rural Development, Essimi Menye, made them understand that the loan finances simultaneously the harvests and the sowing of campaigns.

Until 2010, the cotton campaigns of Sodecoton were financed by the foreign bankers.

The first operation of financing by a pool of local banks made it possible to mobilize 6.5 billion F in 2011, 10 billion in 2012 and 15 billion in 2013. The marketing year 2014 was financed with height of 35.5 billion F.