Ghana’s Cocobod signs $1.3 billion syndicated loan

Cocoa-Tree

FILE PHOTO: Cocoa Farm

FILE PHOTO: Cocoa Farm

Ghana’s cocoa industry regulator Cocobod signed a 1.3 billion dollars loan with international banks on Thursday to fund purchases for the 2018/19 season, due to open early next month.

Ghana, the world’s second largest cocoa producer after Cote d’Ivoire, uses loans from international banks every year for bean purchases.

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In the upcoming season it aims to buy at least 900,000 tonnes from farmers, spokesman Noah Amenya said.