Minority says international banks reject COCOBOD’s $1.5 Billion loan request amid cocoa sector decline
The Minority in Parliament claims that international banks have rejected Ghana Cocoa Board’s (COCOBOD) request for a $1.5 billion prepayment loan to finance cocoa purchases for the 2024/2025 crop season. This marks the first time in 32 years that COCOBOD's loan request has been declined, according to a press statement signed by Minority Leader Dr. Cassiel Ato Forson and seen by Investment Times. The statement highlights that in June 2024, COCOBOD issued a Request for Proposal (RFP) for the $1.5 billion loan aimed at purchasing up to 650,000 metric tonnes of cocoa. However, the request failed to attract interest from...
