$ 600 million loans to boost Ghana’s cocoa industry

Ghana’s cocoa industry is getting a large boost by $600 million in loans from the African Development Bank (AfDB) and from commercial lenders, led by Credit Suisse Group AG.

The loans – $250 million from AfDB, $350 million from commercial lenders – are to be used to finance new warehouses, rehabilitate plantations and support the processing sector of the world's number two cocoa producer.

According to AllAfrica, the rehabilitation program will help replace ageing cocoa trees and the destruction of plantations infected with ‘swollen shoot disease’. Other financing will help Ghana’s cocoa regulator Cocobod offer short-term working capital support to local cocoa-processing companies.

Further reading on allafrica.com

< Previous Next >

Related articles