EBRD cotton investment in Uzbekistan under scrutiny
The European Bank for Reconstruction and Development (EBRD) is expected to approve a loan of US$70m to Indorama Agro for the development of the cotton farming sector in Uzbekistan.
According to the EBRD, the project is expected to strengthen competitiveness and enhance economic inclusion, especially for young people and women in rural areas. Moreover, it “helps the company achieve higher environmental standards” similar to the Better Cotton Initiative for sustainable cotton farming in Uzbekistan, whose industry is allegedly notorious for violating the rights of workers.
For the full story, see the March 2021 edition of Textiles Eastern Europe.