$600 million cocoa loan to serve interest of farmers – Cocobod CEO

Joseph Boahen Aidoo, CEO, COCOBOD
Joseph Boahen Aidoo, CEO, COCOBOD

Chief Executive Officer (CEO) of COCOBOD, Joseph Boahen Aidoo, has explained government’s decision to acquire a $600m cocoa loan facility is in the interest of the farmers and Ghana at large.

According to Mr Aidoo, the loan will go a long way to
improve Ghana’s cocoa sector and boost production.

“The money is to boost cocoa production to improve the standard of living for farmers and also make it attractive. So it is in the interest of farmers and Ghana,” he said.

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Speaking in an interview on Asempa FM’s Ekosii Sen show, Mr Aidoo said the loan facility will also help Ghana to deal with cocoa swollen shoot disease which has become a real challenge.

“There is no need for us to politicise this loan because we have lost a lot of cocoa trees in the Western region, especially due to the swollen shoot disease. So I believe we can use this money to support farmers in replanting,” he explained.

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Mr Aidoo added that COCOBOD has held meetings with counterparts in Ivory Coast to see how best they can influence purchasing power.

“We are going to establish a permanent cocoa secretariat fund in Accra to support farmers in Ghana and Ivory Coast. The Ivorians will appoint the Secretary for the Board,”he revealed.