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COCOBOD has signed a $ 300 million three-year loan with several international lenders, according to a COCOBOD press release.
This facility will be used to refinance cocoa bills collected by the Bank of Ghana on behalf of Cocobod and to fund production improvement programs.
To ensure the sustainability of the cocoa economy in Ghana, Cocobod continues to put in place several strategies, projects and programs to ensure good agronomic practices to preserve the fragile tropical ecosystem, improve working conditions and living conditions farmers, including women and children. .
The facility will pay an initial margin of 295bps per year. above the USD LIBOR and will include a margin incentive mechanism subject to the achievement of the above-mentioned environmental and social objectives.
In order to further progress in achieving these objectives, Cocobod has chosen to include environmental and social objectives in the credit agreement with the Arranging Group, aimed at promoting sustainable cocoa production. environment, to raise awareness about child labor and to empower women.
Joseph Boahen Aidoo, Chief Executive Officer of COCOBOD, said: "The Ghana Cocoa Council is pleased with the signing of this facility which will greatly contribute to the realization of its sustainability programs in all cocoa areas to improve the social and environmental sustainability of cocoa farming and also improve the livelihoods of farmers. & # 39; & # 39;
The $ 300 million badet backed trade finance facility was subscribed by Natixis, Cooperative Rabobank UA, Crédit Agricole Corporate and Investment Bank, Societe Generale and MUFG Bank, Natixis.
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