Ghana supplies 70% of all cocoa beans to Japan Cocoa seen as a most essential import commodities

centric agricultural value chain and related industries, the facility will help COCOBOD to contribute to achieving Sustainable Development Goals,” said Joseph Boahen Aidoo, COCOBOD CEO.

COCOBOD will use the facility to raise cocoa yields per hectare and increase Ghana’s overall production. Activities under the facility will include the allocation of financing to sustainably increase cocoa plant fertility, improve irrigation systems, and rehabilitate aged and disease-infected farms. The funds will also help increase warehouse capacity and provide support to local cocoa-processing companies.

“African countries like Ghana and Cote d’Ivoire produce nearly three quarters of the global supply of cocoa. This significant Bankfacilitated loan to COCOBOD aims to improve the quantity and quality of local processing, boosting incomes of local farmers and their communities and generating new and better jobs,” said Jennifer Blanke, African Development Bank vice president for agriculture, human and social development, ahead of the event.

Earlier in March, after the close of the syndication process, an amended agreement brought on board the Japan International Cooperation Agency (JICA), the Development Bank of Southern Africa and Cassa Depositi e Prestiti Spa, and other commercial lenders.

“This loan marks the first time JICA and the African Development Bank will be providing direct co-financing under the Enhanced Private Sector Assistance for Africa initiative (EPSA4) as well as being the first non-sovereign project,” said Yasumichi Araki, chief representative of JICA Ghana. “JICA will continue to commit to the cocoa industry in Ghana through innovative interventions to COCOBOD,” he said.

JICA has supported COCOBOD to build capacity to quality-test cocoa beans. Ghana supplies 70 percent of all cocoa beans imported into Japan and cocoa is seen as one of the country’s most essential import commodities.

The Development Bank of Southern Africa is also partnering with COCOBOD to further enhance Ghana’s position as one of the leading producers of cocoa in the world.