{"id":739819,"date":"2019-11-07T14:45:33","date_gmt":"2019-11-07T14:45:33","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/11\/07\/parliament-approves-600m-cocoa-loan\/"},"modified":"2019-11-07T14:45:33","modified_gmt":"2019-11-07T14:45:33","slug":"parliament-approves-600m-cocoa-loan","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/11\/07\/parliament-approves-600m-cocoa-loan\/","title":{"rendered":"Parliament Approves $600m Cocoa Loan"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>Parliament of Ghana<\/strong><\/p>\n<p>PARLIAMENT HAS endorsed<br \/>\nthe $600 million loan agreement for the Cocoa Productivity Enhancement Project<br \/>\nin spite of concerns raised by the Minority on Tuesday.<\/p>\n<p>The Deputy<br \/>\nMinister of Finance, Abena Osei Asare, who is also the Member of Parliament<br \/>\n(MP) for<br \/>\nAtiwa East, yesterday moved the motion for the agreement<br \/>\nto be passed. She was seconded by Dr. Mark Assibey-Yeboah. <\/p>\n<p>On Tuesday, First<br \/>\nDeputy Speaker of Parliament, Joseph Osei Owusu, who presided over proceedings,<br \/>\ncould not permit the House to vote on the issue because there was no quorum.<\/p>\n<p>Even though the Minority National Democratic<br \/>\nCongress (NDC), led by the ranking member on Finance, Ato Forson, and the<br \/>\nMinority Leader, Haruna Iddrisu, raised the concerns prior to the approval, the<br \/>\nfacility was approved.<\/p>\n<p>The Minority has<br \/>\nindicated that despite the approval, it will contact the lender, African<br \/>\nDevelopment Bank (AfDB), to re-organise the agreement in a better way since its<br \/>\ncurrent arrangement was not in the interest of Ghanaiancitizens.<\/p>\n<p>But explaining<br \/>\nthe issues further on <em>Citi FM<\/em>, an<br \/>\nAccra-based radio station, Fiifi Boafo, a manager at COCOBOD, said more<br \/>\ndiscussions were held with the Minority on the issue.<\/p>\n<p>\u201cWe do not think<br \/>\nthe situation is going to remain the same when Parliament reconvenes because a<br \/>\nlot of the things that were said were out of the fact that some members were<br \/>\nnot privy to all the relevant information on this whole loan facility,\u201d he<br \/>\nsaid.<\/p>\n<p>\u201cSome of them<br \/>\nhave enquired after what happened in Parliament and explanations have been<br \/>\noffered. It is our considered view that being informed about what the whole<br \/>\nfacility is about and it seeks to help cocoa farmers and the entire cocoa<br \/>\nindustry of the country when Parliament reconvenes, a decision will be made.<br \/>\nThere is the need for us to go ahead because this money will be put to proper<br \/>\nuse and will be beneficial to our country,\u201d he added.<\/p>\n<p>However, the Chairman<br \/>\nof the Agricultural Committee of Parliament, Kwame Asafo Adjei,<br \/>\nhas described the expenditure as blameless.<\/p>\n<p>Recently<br \/>\nat Peduase Lodge, Information Minister Kojo Oppong Nkrumah told journalists<br \/>\nthat the stimulus package, which comes in two parts\u2014Commercial Part and Developmental Part\u2014would help to raise cocoa production to over<br \/>\n1.5 million tonnes by 2027.<\/p>\n<p>Cabinet has<br \/>\nalready approved it followed by the passage yesterday by Parliament. Officials of<br \/>\nCOCOBOD are expected to travel to South Africa to initiate efforts at accessing<br \/>\nthe amount.<\/p>\n<p>As a medium term facility, it is a shift from the annual syndication loan to a higher medium to long financing.<\/p>\n<p><strong>By Thomas Fosu Jnr <\/strong><\/p>\n<p>.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Parliament of Ghana PARLIAMENT HAS endorsed the $600 million loan agreement for the Cocoa Productivity Enhancement Project in spite of concerns raised by the Minority on Tuesday. The Deputy Minister of Finance, Abena Osei Asare, who is also the Member of Parliament (MP) for Atiwa East, yesterday moved the motion for the agreement to be [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":739820,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-739819","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Parliament Approves $600m Cocoa Loan - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/11\/07\/parliament-approves-600m-cocoa-loan\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Parliament Approves $600m Cocoa Loan - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Parliament of Ghana PARLIAMENT HAS endorsed the $600 million loan agreement for the Cocoa Productivity Enhancement Project in spite of concerns raised by the Minority on Tuesday. The Deputy Minister of Finance, Abena Osei Asare, who is also the Member of Parliament (MP) for Atiwa East, yesterday moved the motion for the agreement to be [&hellip;]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.ghanamma.com\/2019\/wp-content\/uploads\/2019\/07\/parliament.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/11\\\/07\\\/parliament-approves-600m-cocoa-loan\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/11\\\/07\\\/parliament-approves-600m-cocoa-loan\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/#\\\/schema\\\/person\\\/53d06a757a4242f113d200e3c290c036\"},\"headline\":\"Parliament Approves $600m Cocoa Loan\",\"datePublished\":\"2019-11-07T14:45:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/11\\\/07\\\/parliament-approves-600m-cocoa-loan\\\/\"},\"wordCount\":430,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/11\\\/07\\\/parliament-approves-600m-cocoa-loan\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/wp-content\\\/uploads\\\/2019\\\/07\\\/parliament.jpg\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/11\\\/07\\\/parliament-approves-600m-cocoa-loan\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/11\\\/07\\\/parliament-approves-600m-cocoa-loan\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2019\\\/11\\\/07\\\/parliament-approves-600m-cocoa-loan\\\/\",\"name\":\"Parliament Approves $600m Cocoa Loan - 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