2023/2024 cocoa season loan agreement report laid before Parliament

The report of the Finance Committee of Parliament has been laid before the House on the Terms of a receivable Trade Finance Facility between Ghana Cocoa Board (COCOBOD) and a Consortium of Banks and Financial Institutions, with the Government of Ghana as Guarantor.

The report, which was laid by Mr Kwaku Agyeman Kwarteng, the Chairman of the Finance Committee of Parliament, is for an amount of up to $800 million to finance the purchase of cocoa for the 2023/2024 Crop Season.

In addition, the Chairman also laid before the House the Committee’s report on the Request for waiver of stamp duty amounting to up to $4 million on the Receivables-backed Trade Finance Facility between Ghana Cocoa Board (COCOBOD) and a Consortium of Banks and Financial Institutions, with the Government of Ghana as the Guarantor, for an amount of up to $800 million to finance the purchase of cocoa for the 2023/2024 Crop Season by the Ghana Cocoa Board.

Furthermore, the Chairman laid the Committee’s report on the Credit Agreement between the Government of Ghana and the International Development Association (IDA) of the World Bank Group for an amount of $200 million for financing the Ghana Tree Crop Diversification Project (TCDP).

 Source: GNA