Ivorian Government Grants $54 Million Subsidy to Cotton Industry

By Emmanuel Tumanjong

Special to Dow Jones Newswires

The government of Ivory Coast said Friday that it is subsidizing the West African nation's cotton industry with 32.52 billion CFA francs ($54.4 million).

The support comes after a tough season for the cotton industry due to insect infestations which damaged crops, Minister of Agriculture Kouassi Kobenan Adjoumani said.

"This financial support comes to relieve us," said Moussa Soro, president of the country's cotton producers federation, or Intercoton.

Write to Barcelona Editors at [e-mail]

(END) Dow Jones Newswires

02-03-23 1228ET