COCOBOD set to receive $600m as AfDB okays Ghana’s economic performance

The African Development Bank (AfDB) has expressed profound satisfaction with the performance of Ghana’s economy.

According to the Bank, Ghana’s 7? growth rate and the sharp drop in its inflation rate, and the performance of key sectors of the economy, were highly impressive.

Executive Directors of the AfDB came to the above conclusion after meeting with top officials of the Ghanaian Government over a period of four days in Accra.

The Executive Directors reportedly met with Ghana’s Vice President, Dr. Mahamudu Bawumia, Finance Minister, Ken Ofori-Atta, Food and Agriculture Minister, Dr. Owusu Afriyie Akoto, management of Ghana Cocoa Board (COCOBOD), private sector players, and non-governmental organizations.

The meetings were aimed at assessing the impact of AfDB’s $900 million projects in Ghana.

Addressing the media after a closed-door meeting with the management of COCOBOD on Thursday, March 5, 2020, the Dean of the Executive Directors of AfDB, Bright Okogu, said the processes leading to the drawdown of the $600 million facility to the Ghana COCOBOD would soon be completed.

He stated that the performance of AfDB projects in Ghana was very great.

Discussions during the closed-door meeting focused on how best the AfDB can fund entrepreneurs to venture into cocoa processing.

Communications Manager of the COCOBOD, Fiifi Boafo, briefed journalists that management of COCOBOD made a special case to the AfDB to consider funding entrepreneurs who want to go into the cocoa processing space.