HAMBURG – The Aid by Trade Foundation (AbTF), which oversees the Cotton made in Africa (CmiA) and Good Cashmere Standard (GCS) initiatives, has revealed that its revenue rose by 37 per cent to €5.9 million (US$6.2m) last year.
The non-profit’s new annual report reveals that most of the extra income, €5.2 million (US$5.4m), was generated through the private-sector market activities of the CmiA and GCS programmes, with the rest coming through donations and grants.
Expenditure on both sustainability standards, and on co-operation projects, also grew by nearly 30 per cent, to €3.1 million (US$3.2m), despite pandemic-related restrictions, says the report.
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