The International Islamic Trade Finance Corporation (ITFC) and the United Nations Industrial Development Organization (UNIDO) have partnered to develop new projects in the industry. One of these projects has been initiated by the Better Cotton Initiative. It aims to revive the Egyptian cotton industry by supporting growers to cultivate sustainable cotton. ITFC and UNIDO will undertake this project to ensure that Egyptian cotton sector remains resilient with increased production, easier access to finance and an enhanced safe operating environment for workers.
Through its strategic partnership with ITFC, UNIDO will also promote industrialization, trade, and sustainable development for common member countries towards achieving the Sustainable Development Goals in general and SDG 9, in particular, says Li Yong, Director General, UNIDO.
UNIDO will also participate in the development of the second phase of Aid-for-Trade Initiative for Arab States (AfTIAS 2.0). The initiative aims to enhance the environment for international trade in the Arab region by making it more efficient and inclusive, thereby creating opportunities for employment and contributing to sustainable development.