Business News of Tuesday, 11 August 2020Source: www.ghanaweb.comUS$1.3 billion loan request to purchase cocoa tabled before ParliamentParliament House of GhanaThe Government of Ghana is requesting for a Parliamentary approval to loan US$1.3 billion to finance the purchase of cocoa for the 2020/2021 crop season. This follows the regulator of cocoa, Ghana Cocoa Board (COCOBOD) given the strongest assurance that its annual cocoa syndication loan facility will go ahead despite the COVID-19 pandemic. Meanwhile, government in 2019 signed the US$1.3 billion loan for the purchase of some 850,000 metric tonnes of cocoa beans from farmers for 2019/2020 crop season. The amount was a cocoa syndicated loan signed between COCOBOD and some international financial institutions. Earlier in 2019 crop season, COCOBOD increased the producer price of cocoa beans from GH¢7,640 to GH¢8,240 per tonne.

Source: GhanaWeb August 11, 2020 14:48 UTC