Ghana COCOBOD launches US$600m syndicated loan facility to boost sector operations

GHANA – The Ghana Cocoa Board (COCOBOD) has officially launched the US$600 million syndicated loan facility which it signed with some Development Finance Institutions (DFI) to finance key components of the organisation’s productivity enhancement programmes. The loan facility aims to implement production, warehousing and processing interventions, adding value to Ghana’s cocoa sector. According to a statement by COCOBOD, the institutions providing the funds include the Japan International Cooperation Agency (JICA), the African Development Bank (AfDB), the Development Bank of South Africa (DBSA) and Cassa Depositi e Prestiti Spa (CDP), as well…

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Ghana to domestically process 50% of cocoa produce, to use US$600m AfDB facility in enhancing processing capacity

GHANA – Ghana, the second largest producer of cocoa in the world, has reiterated its commitment towards locally processing half of the cocoa that it produces. The Chief Executive of Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo echoed the government’s stand after holding a closed-door meeting with Executive Directors of AfDB at the COCOBOD headquarters, in Accra. According to the Public Affairs Manager of Cocobod, Mr. Fiifi Boafo, the meeting was a precursor to the final processes for the disbursement of the US$600m AfDB credit facility to finance crucial projects…

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