RE: Government, COCOBOD unable to account for US$1.3bn syndicated loan - Akandoh claims

Ghana Cocoa Board (COCOBOD) has taken notice of a news story that a Member of Parliament has accused the government and COCOBOD of not accounting for a US$1.3billion cocoa syndicated loan for the 2020/2021 crop season.

Contrary to the assertions of the MP for Juaboso, Kwabena M. Akandoh, COCOBOD has met all its statutory requirements and agreements with its financial partners in accounting for the syndicated loan for the 2020/2021 crop season which closed in September 2021.

Furthermore, COCOBOD has drawn down US$1.45 billion out of the US$1.5 billion facilities procured for the present 2021/2022 season, which has gone into financing the purchase of cocoa and other industry costs.

Information about payments to LBCs can be verified from the LBCs and COCOBOD, to avoid putting out false information.

We urge the public to disregard the false claims as COCOBOD is on course to meet all its financial obligations to farmers and the LBCs within the current crop season.

Issued by: Public Affairs Department