Abidjan, 12 February 2019 —IFC, a member of the World Bank Group, in partnership with the governments of Côte d’Ivoire and Canada, and the Cotton Cashew Council, today announced the release of a guide to improve access to markets for SMEs in the cashew processing sector in Côte d’Ivoire. Guide to Best Practices on Cashew Traceability System provides managerial and technical tools for SMEs in the cashew value chain to implement a documentation and traceability system that complies with regulations and standards on the international markets.
Côte d’Ivoire is the largest cashew producer in the world, with a production of over 760,000 metric tons in 2018. Close to 90 percent of cashews are exported without any value-addition to countries like India and Vietnam. Expanding processing at the local level would increase private investment and create jobs, especially in the northern part of the country, where most cashews farmers and orchards are located. IFC is supporting the Cotton Cashew Council to train cashew processors on product traceability.
Adamou Labara, IFC’s Acting Country Manager for Côte d’Ivoire, said “IFC leveraged its global expertise to support the development of this important toolkit, which will improve the competitiveness of a value chain that is crucial for Côte d’Ivoire’s economy.” He added “This new traceability framework creates an opportunity for local processors to deliver high quality products to international markets.”
Dr. Adama Coulibaly, Managing Director of the Cotton Cashew Council said “Processing cashews locally is critical for the development of the sector. The new framework and guidebook help us in our effort to achieve the government's objectives of transforming at least 50 percent of the cashew production.”
IFC’s initiative is complemented by the World Bank Enclave project, which aims to improve the competitiveness of the cashew value chain in Côte d’Ivoire, with an emphasis on infrastructure development, strengthening of storage capacities through the rehabilitation of warehouses and stores, and improvement of access to new markets.
About IFC
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, we delivered more than $23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org
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