The projects are expected to reach around 750,000 farmers ©Better Cotton Initiative

The projects are expected to reach around 750,000 farmers ©Better Cotton Initiative

Investors of the Better Cotton Fast Track Program (BCFTP) have approved spending of nearly EUR10m (US$13.8m) for 50 Better Cotton projects this year.

The program, whose committee includes retailers and brands such as Ikea, H&M, VF Corp and Marks & Spencer, recently met in Delhi, India to approve the projects across India, Pakistan, China, Mozambique and Mali.

The projects are expected to reach around 750,000 farmers and will work to produce nearly 1m tonnes of Better Cotton. The committee approved spending of EUR9.6m for these.

The meeting included discussions on the country investment strategy for the year, project approval metrics and criteria, and self-reliance of projects and exit strategies.