- The Ghana Cocoa Board (COCOBOD) has received $600 million to boost cocoa production in Ghana
- The support was from a number of developmental partners
- They include African Development Bank (AfDB), Japan International Cooperation Agency (JICA), Development Bank of Southern Africa (DBSA) and Cassa Depositi e Prestiti Spa (CDP)
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The Ghana Cocoa Board has received $600 million from a number of international agencies.
The financial support is expected to be used for the boosting of cocoa productivity in the country.
The package was jointly announced by COCOBOD, Japan International Cooperation Agency (JICA) and other Development Finance Institutions (DFIs).
READ ALSO: Agric ministry to support women farmers with GHc2.5 million package
Per a report by thebftonline.com, the fund would be used to support COCOBOD’s Productivity Enhancement Programmes (PEPs).
YEN.com.gh understands that in November 2019, the DFIs signed the agreement with COCOBOD.
Those present included African Development Bank (AfDB), Japan International Cooperation Agency (JICA), Development Bank of Southern Africa (DBSA) and Cassa Depositi e Prestiti Spa (CDP), and commercial finance agencies such as Credit Suisse AG (London Branch) and the Industrial and Commercial Bank of China (London branch).
COCOBOD’s Chief Executive Officer (CEO), Joseph Boahen Aidoo, noted that the support “…will help COCOBOD contribute to achieving SDG Goals 1 (no poverty), 8 (decent work and economic growth) and 12 (responsible consumption and production).”
In other news, the Chief Executive Officer (CEO) of the Ghana Investment Promotion Centre (GIPC), Yoofi Grant, has called for a common African currency.
According to him, the use of different currencies in the continent is a huge barrier as it complicates trading activities.
In his opinion, it should be possible to easily trade in Nigeria without switching currencies.
READ ALSO: GRA recorded over GHc1 million taxpayers in 2019 - Finance Ministry
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