The Federal Government has approved a new funding plan that will ensure that cotton, textile and garment  firms access long-term, low interest loans to finance their operations.

This is part of the new National Cotton, Textile and Garment Policy aimed at revitalising and boosting  the growth and development of the cotton, textile and garment industry.

Minister of Industry, Trade and Investments, Mr. Olusegun Aganga, disclosed this during the launch of the Nation Cotton, Textile and Garment Policy and the inauguration of a 17-member Implementation, Monitoring and Review Committee for the CTG Policy, in Abuja.

Aganga said the policy, a product of prolonged consultation with stakeholders in the industry, was expected to address bottlenecks inhibiting growth and development of the industry.

He added that it would  improve the quality, quantity, production capacity, marketing and competitiveness of players across the entire value chain; control influx of sub-standard textiles and garments and improve competitiveness of CTG nationwide, among others.