Africa Finance Corporation Signs Joint Declaration with UNIDO and Backs
Cotton Partnership at WTO's Aid-for-Trade Global Review

EQS-News: Africa Finance Corporation (AFC) / Key word(s): Agreement
Africa Finance Corporation Signs Joint Declaration with UNIDO and Backs
Cotton Partnership at WTO's Aid-for-Trade Global Review

04.07.2024 / 11:45 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Africa Finance Corporation (AFC) Signs Joint Declaration with the United
Nations Industrial Development Organization (UNIDO) and Backs Cotton
Partnership at World Trade Organization's (WTO) Aid-for-Trade Global Review

Africa Finance Corporation (AFC) ( www.AfricaFC.org), the continent's
leading infrastructure solutions provider, has signed a joint declaration
with the United Nations Industrial Development Organization (UNIDO) to
enhance sustainable industrialisation and committed to support the
'Partenariat pour le coton' initiative, which seeks to enhance Africa's role
within the global textile and apparel value chains. Aligned with AFC's
commitment to drive Africa's sustainable development, the declarations were
signed at the ongoing Aid-for-Trade Global Review at the World Trade
Organization (WTO) headquarters in Geneva, Switzerland.

AFC's work with UNIDO is aimed at advancing sustainable industrialisation in
developing economies, with the two institutions focused on catalysing
private investment across several sectors while supporting energy access and
transition, industrial decarbonisation, and the development of
agro-industries through mobilising the knowledge, expertise, and financial
resources required to achieve the UN sustainable development goals (SDGs).

Separately, AFC agreed to collaborate with UNIDO, the WTO, the International
Trade Centre (ITC), the African Export-Import Bank (Afreximbank), and the
International Islamic Trade Finance Corporation (ITFC) to support the
'Partenariat pour le coton'. This initiative aims to strategically position
African nations - notably Benin, Burkina Faso, Chad, Mali, and Côte d'Ivoire
- within the global textile and apparel value chains. The partnership will
focus on constructing regional hubs for sustainable textiles to boost trade
competitiveness and spur economic development within Africa's cotton
sectors. Supported by a joint declaration aligned with the UN SDGs, the
initiative is committed to transforming the cotton industry by implementing
sustainable practices, creating jobs, empowering women and youth, and
enhancing technology and infrastructure.

'Partenariat pour le coton' extends AFC's already significant role in
transforming Africa's textiles industry through investee company ARISE IIP's
Glo-Djigbé Industrial Zone (GDIZ) in Benin Republic. The GDIZ hosts a
textile manufacturing plant that processes locally sourced raw cotton to
create finished t-shirts for sale in domestic and international markets. The
GDIZ's 'Made-in-Benin' t-shirts now retail at The Children's Place Store in
the US, and it recently exported 80,000 children's leggings to the French
brand Kiabi. This milestone showcases the significant potential of Africa's
textile industry and marks a major step in integrating Benin Republic into
the global textiles and clothing market.

AFC's President & CEO, Samaila Zubairu said: "These joint declarations are a
reaffirmation of AFC's commitment to driving sustainable development in
Africa. By partnering with esteemed global organizations such as UNIDO and
supporting transformational initiatives like the 'Partenariat pour le
coton,' we are setting the stage for rapid economic and industrial
advancements that will create quality jobs and wealth."

AFC's recently published "State of Africa's Infrastructure Report 2024"
identified significant infrastructure gaps and, correspondingly, immense
investment opportunities in key sectors including power, transport, and
digital communications.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

Download image 1: https://apo-opa.co/3RTsPis (AFC partners with UNIDO and
key global organizations to enhance sustainable industrialization and
support Africa's cotton sector through the 'Partenariat pour le coton'
initiative)

Download image 2: https://apo-opa.co/3RPRwML (AFC partners with UNIDO and
key global organizations to enhance sustainable industrialization and
support Africa's cotton sector through the 'Partenariat pour le coton'
initiative)

Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile : +234 1 279 9654
Email : yewande.thorpe@africafc.org

About AFC:

AFC was established in 2007 and has been the catalyst for pragmatic
infrastructure and industrial investments across Africa. AFC's approach
combines specialist industry expertise with a focus on financial and
technical advisory, project structuring, project development, and risk
capital to address Africa's infrastructure development needs and drive
sustainable economic growth.

Seventeen years on, AFC has developed a track record as the partner of
choice in Africa for investing and delivering on instrumental, high-quality
infrastructure assets that provide essential services in the core
infrastructure sectors of power, natural resources, heavy industry,
transport, and telecommunications. AFC has 43 member countries and has
invested US$13 billion across Africa since inception. www.AfricaFC.org


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