Ghana: Parliament approves $2bn facility for purchasing cocoa

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The Parliament of Ghana on Wednesday approved a $2 billion credit facility for the Ghana Cocobod to finance the purchase of cocoa for the season 2016/2017 and other related activities.The Ghana Cocobod is the main body tasked with purchasing cocoa from Ghanaian farmers for export and has targeted to export 900,000 tonnes of cocoa for the season under review.

The facility is being provided by the five international banks.

The facility was approved after the Finance Committee had presented its report after studying proposals submitted by the Cocobod for scrutiny.

Ghana is one of the leading producers of cocoa in the world, placing second to Ivory Coast.

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