Ivory Coast: The Bank for the Financing of Agriculture will open new branches

Oct 02, 2013

The Bank for the Financing of Agriculture (BFA) will open several new branches to be closer to the agricultural world, especially smallholders engaged in the food sector.

The Bank for the Financing of Agriculture
(
BFA) will open several new branches to be closer to the agricultural world, especially smallholders engaged in the food sector.

This announcement was made on September 26th by BFA's
head of marketing and communication department Anette Baquba during the presentation of a
set of measures designed to
stimulate the bank's growth, Notre Voie reports.

She said the institution is now ready to support various sectors of the Ivorian economy - in addition to agriculture and agro-industry - especially in the fields of industry, mining and energy.

The primary sector accounts for nearly a quarter of GDP in Ivory Coast and employs more than two thirds of the country's workforce. The state is one of the largest producers of cocoa, coffee and palm oil in the world.

Ivory Coast wants to increase the income of farmers to stimulate consumption and recreate a middle class. As a country rich in agricultural commodities, it wants to divide by two the poverty rate, down to 25 percent of the population in 2015, said Ivorian President Alassane Ouattara last December.ADNFCR-2976-ID-801644685-ADNFCR