Cashew processors in Côte d'Ivoire are not receiving funding from the state-owned National Investment Bank (BNI) to purchase raw cashew nuts supplied by sector regulator CCA under a programme to boost local processing capacity, processors and CCA sources said. Ivory Coast, the world's largest producer of cashew nuts and cocoa, is seeking to make local processors more competitive and efficient in the face of Asian multinationals. The Cotton and Cashew Council (CCA) and the government have adopted a number of measures to stimulate local processors, including subsidies, tax breaks and the granting of exclusive purchasing rights during the first two months of the cashew season. Under a program launched three weeks ago, the CCA provides 20% of the raw material needs of local processors at the start of the cashew season through financing from the state-owned National Investment Bank (BNI) for the Ivorian government. Local processors, who have a total processing capacity of over 130,000 tonnes of cashew nuts, received around 40,000 tonnes from CCA suppliers. But two processors said they had not received any funding from BNI to pay CCA suppliers for raw cashew nuts, leading to a build-up of stocks as suppliers threaten to cut off deliveries. “We receive raw nuts from suppliers, but there is no financing to pay for them. BNI bank does not support us,” said the director of an Ivorian cashew processing company located in the heart of the country’s cashew processing industry. "Everyone is playing the game except the bank," said the head of another processing company. Two CCA officials, who asked not to be named, confirmed this information and told Reuters they were in talks with the BNI. "We are doing what we can to improve the situation, but we are waiting for a response from the bank," an official said. The BNI's communications unit did not respond to a request for comment. Côte d'Ivoire processes about 36% of its cashew crop, with a goal of reaching 50% by 2030. Cashew production is expected to reach about 1.2 million tonnes this year.