British International Investment (BII) has doubled its investment in Valency International to $30m (€28.8m), strengthening its commitment to sustainable agriculture.
The UK’s development finance institution and impact investor said it has made a further $15m equity investment in Valency to support a new 45,000mt cashew processing facility and a bioproducts plant that will convert waste cashew shells into biochar and biofuels.
The cashew processing facility in Attingue in Côte d’Ivoire is expected to create up to 2,000 direct jobs, and support about 50,000 smallholder farmers through fair trade practices and improved access to sustainable markets.
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