The Government of Ghana (GoG) is seeking the approval of Parliament to borrow US$ 1.3 billion to shore up the purchase of cocoa for the 2020/2021 crop season.
Additionally, the GoG is seeking a GH₵6.5 million in tax waivers.
Approval of the loan facility is expected to be made before the House goes on recess later this week.
It would be recalled that the government in 2019 signed the US$1.3 billion loan for the purchase of some 850,000 metric tonnes of cocoa beans from farmers for 2019/2020 crop season.
The amount was a cocoa syndicated loan signed between COCOBOD and some international financial institutions.