November 27, 2020

Parliament Approves $1.3 Bn Cocoa Loan for 2020/2021 Crop Season

Cocoa beans

 

Parliament has approved to a loan agreement to enable Ghana COCOBOD to be able to purchase cocoa beans in the 2020/2021 cocoa season.

Presenting to parliament the details of the loan facility, the Chairman of the finance committee, Mark Asibbey-Yeboah requested from the house to adopt his committee’s report on the terms of a receivables-backed trade finance facility between Ghana Cocoa Board and a Consortium of Bank and financial institutions with the government of Ghana as guarantor for an amount of up to US$1.3 billion to finance the purchase of Cocoa for the 2020/2021 crop season.

Meanwhile, seconding the motion moved by Mr Yeboah, the Minority MP for Adaklu, Kwame Agbodza express worry as to why a report which was supposed to be presented by the Ghana COCOBOD on the suspension and audit of the Cocoa roads in 2017 was not ready.

Source: Classfmonline.com

265

Parliament Approves $1.3 Bn Cocoa Loan for 2020/2021 Crop Season

Cocoa beans

 

Parliament has approved to a loan agreement to enable Ghana COCOBOD to be able to purchase cocoa beans in the 2020/2021 cocoa season.

Presenting to parliament the details of the loan facility, the Chairman of the finance committee, Mark Asibbey-Yeboah requested from the house to adopt his committee’s report on the terms of a receivables-backed trade finance facility between Ghana Cocoa Board and a Consortium of Bank and financial institutions with the government of Ghana as guarantor for an amount of up to US$1.3 billion to finance the purchase of Cocoa for the 2020/2021 crop season.

Meanwhile, seconding the motion moved by Mr Yeboah, the Minority MP for Adaklu, Kwame Agbodza express worry as to why a report which was supposed to be presented by the Ghana COCOBOD on the suspension and audit of the Cocoa roads in 2017 was not ready.

Source: Classfmonline.com

265

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