General News of Wednesday, 6 November 2019Source: starrfm.com.gh$600m COCOBOD loan for 2020 campaign – Minority allegesMinority spokesperson on Finance, Cassiel Ato ForsonThe Minority in Parliament has raised red flags over the $600 million loan agreement between the government of Ghana and the African Development Bank for the productivity enhancement of Cocoa. Government is seeking to use over 10 million dollars of the $600 million loan to gather a database of farmers and over 7 million for promotion of consumption of cocoa products. Ranking member and Minority Spokesperson on Finance Cassiel Ato Forson accused the government of inflating costs of projects to be undertaken with the facility. Engaging the media after proceedings Ato Forson attributed the inflated costs to moves by the government to secure funds for the 2020 campaign. “I will be the first person to support anything that seeks to enhance cocoa productivity but the structure of this loan, I cannot be part of it.”Approval of the loan agreement was consequently deferred by first deputy speaker Joseph Osei-Owusu even though the report was adopted amidst controversy.

Source: GhanaWeb November 05, 2019 20:48 UTC