Tag: Cocoa Syndication Loan
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COCOBOD secures $1.5 billion syndicated loan for 2021/2022 crop season
The Ghana Cocoa Board (COCOBOD) has signed an agreement for a $1.5 billion syndicated loan facility for the 2021/2022 cocoa crop season. This is the largest loan facility so far in its history. The funds, which will be used to purchase cocoa beans for the 2021/2022 crop season, have an interest rate of 1.1 percent…
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Low interest rates will empower local banks to fund cocoa purchasing – BoG Governor
The Governor of the Bank of Ghana, Dr. Ernest Addison, has said reduced domestic interest rates will empower local banks to participate in the cocoa syndicated loan. COCOBOD is seeking to raise 1.3 billion dollars to finance the 2020/2021 crop season. But some financial analysts have maintained that the funds used in purchasing cocoa beans…