$600m Cocoa Productivity loan will boost private sector involvement in cocoa processing – Dwuma-Odoom
Vice chairman of the Parliamentary Select Committee on Food and Agriculture, Abraham Duma-Odoom says the $600 million loan agreement for the Cocoa Productivity Enhancement Project will boost private sector involvement in cocoa processing.
On Wednesday, Parliament voted to pass the $600 million loan agreement for the Cocoa Productivity Enhancement Project, ratifying an earlier decision by cabinet.
The Ministries of Finance and of Food and Agriculture, will subsequently liaise with the Ghana Cocoa Board to ensure disbursement of the $600 million loan for several initiatives such as mass cocoa spraying exercises, agronomic support and input subsidies are expected to be undertaken under the project which was sourced from the AfDB.
Speaking on the Jolly Breakfast Show today, Abraham Dwuma-Odoom said this will boost private sector involvement in developing cocoa processing.
”This forms part of governments commitment to support the private sector in improving cocoa processing in this country. Of course government benefits too because in the end, a strong private sector participation means government does not get overburdened but can redirect its focus to other areas of agriculture and invest where necessary” he said.