The World Bank has agreed a loan of $200m to the government of Côte d’Ivoire in order to support its Cashew Value-Chain Competitiveness Project (CVCCP), which has been designed to increase cashew productivity and promote the cashew processing industry in the country.

Around 225,000 cashew farmers in the country will benefit directly through CVCCP interventions, and the new investment is expected to generate nearly 12,000 jobs, with 50% reserved for women.

The project will benefit cashew enterprises ranging from small-scale processing units to larger industrial processing facilities. CVCCP will also support small and medium enterprises involved in storing raw cashew nuts.

World Bank Côte d’Ivoire country director Pierre Laporte said: “Cashews are one of the main sources of smallholders’ income and the centrepiece of the Côte d’Ivoire’s major farming systems, involving about two million people located mainly in the poorer northern part of the country wher they have become the most important source of rural cash income.

"The new project has big a potential to generate inclusive rural employment through farming and industrialisation, thereby contributing to poverty reduction."

“By developing the cashew value chains and strengthening its integration into global markets, the new project has big a potential to generate inclusive rural employment through farming and industrialization, thereby contributing to poverty reduction.”

CVCCP is reportedly in line with Côte d’Ivoire’s National Development Plan (2016-2020) and the National Agriculture Investment Programme, which primarily focus on the development of the cashew value chain as a national priority. It is also consistent with the World Bank’s Country Partnership framework (CPF) for Côte d’Ivoire that addresses issues such as low productivity and job creation in the agriculture sector.

The project aims to improve the organisation and governance of the cashew value chain by reducing the marketing costs, enhancing competitiveness and inclusiveness of small-scale farmers.

By promoting cashew research and seedling development, the project will help increase on-farm cashew productivity and access to the market for raw cashew nuts.

The project also encourages private investment in post-harvest and processing infrastructure to increase the volume and value addition of locally processed cashew.