[ad_1]
NEW YORK, March 19 (Reuters) – Cocobod in Ghana on Tuesday signed a US $ 300 million three – year loan with several international lenders to refinance central bank – sourced cocoa bills and to finance credit programs. production improvement, announced one of the lenders in a statement.
Ghana said it was in talks with international lenders for such a loan in September. This month, Cocobod signed a $ 1.3 billion loan from international banks to fund bean purchases.
The $ 300 million badet-backed trade finance facility was subscribed by Natixis, Rabobank UA Cooperative, Crédit Agricole Corporate and Investment Bank, Societe Generale and MUFG Bank, Natixis said in a statement on Tuesday.
The loan will also serve Cocobod's objectives of supporting environmentally friendly production practices, raising awareness of child labor and empowering women.
The loan "will greatly contribute to the achievement of its sustainability programs in all cocoa growing regions in order to improve the social and environmental sustainability of cocoa farming and improve the livelihoods of farmers", said Joseph Boahen Aidoo, CEO of Cocobod.
Ghana is the second largest cocoa producer after neighboring Côte d'Ivoire. (Report by Ayenat Mersie in New York edited by James Dalgleish)
Source link
