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Ghana and Ivory Coast to Obtain $ 1.2 Billion Loan for Cocoa Industry

The governments of Ghana and Côte d’Ivoire are about to get a $ 1.2 billion loan from the African Development Bank to undertake programs and interventions that will make the cocoa industry attractive for young people.

Six million dollars will be devoted to the rehabilitation of the industry, while the rest will be used to promote the added value of domestic processing of cocoa beans.

This was revealed by Ghana’s Chief Executive Officer Cocoa Board (COCOBOD), Mr. Joseph Boahen Aidoo, during a ten-day familiarization tour in the Ashanti, Brong Ahafo and Northern regions where he shared with farmers, the interventions the government was putting in place to resurrect the industry.

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Ghana’s share of the facility will be used to help young people obtain seedlings and acquire land and allowances for three years, when the gestation period should end so that they can take care of themselves.

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