UNIDO, WTO team up to invest $12 billion in sustainable African cotton

The UN Industrial Development Organization (UNIDO) and World Trade Organization (WTO) are joining forces to raise $12 billion for sustainable cotton production in Africa. This initiative aligns with the WTO's focus on creating jobs for women and youth in West Africa's cotton industry.

A key part of the plan is a joint declaration to attract investment. Partners include UNIDO, WTO, and financial institutions like the African Development Bank. This collaboration aims to meet the investment needs outlined in the Cotton Roadmap Initiative.

UNIDO's Director-General Gerd Muller emphasized promoting fair and sustainable local cotton processing for economic growth and job creation. WTO's Director-General Ngozi Okonjo-Iweala highlighted the historic opportunity for West Africa's cotton and textile sector.

A panel discussion with industry leaders explored ways to improve access to resources and unlock investment opportunities. Financial institutions are seen as crucial for providing funding for energy, infrastructure, and skills development.

The Joint Declaration signing marks a significant step towards securing the necessary funding for this ambitious project.