IVORY COAST: World Bank sceptical of HSBC proposals to revive cocoa industry
In a bid to revive the struggling cocoa industry that amounts to 40% of the world's supply, the Ivory Coast government, advised by British bank HSBC Holdings , plans to introduce a new marketing system in October. The World Bank is sceptical however, that it will work. It is also sceptical of a proposed "price stabilisation" system and its director for West African rural development, Jean-Paul Chausse, commented that of the five proposals put forward recently by HSBC, "there is no option which particularly convinces us."
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