Alexbank has joined ‘Cottonforlife Initiative’ in partnership with Filmar Nile Textile and the Egyptian Ministries of Agriculture and Education. Alexabank, in coordination with Filmar, will provide technical and financial support to the Egyptian Ministry of Education for training the students in organic agriculture and sustainable industrial processes related to cotton processing, Filmar said in a press release.
The Cottonforlife Initiative is an innovative partnership between the parties to support sustainable development in Egypt.
Leveraging on Alexabank’s and Filmar’s aim to promote the growth and relevance of their Corporate Social Responsibility portfolios, a 5-year partnership agreement will be signed on 16th December in the framework of the Cottonforlife Initiative, the release said.
Alexabank joins private sector and government’s initiatives as one of the main partners contributing in helping the textile industry requiring skilled labour, technologically advanced machinery and production lines to make Egyptian high quality cotton one of the main competitors in the international market.
The Cottonforlife Initiative supports the whole value-chain of organic cotton cultivation and processing through revitalising the extra-long staple cotton production. (HO)