The Dean of the Executive Directors of the African Development Bank (AfDB), Mr. Bright Okogu, has revealed that the processes leading to the draw down of a $600 million facility to the Ghana Cocoa Board (COCOBOD) would soon be completed.
Speaking to reporters after a closed door meeting with the management of COCOBOD on 5 March, Mr. Okogu stated that the performance of AfDB projects in Ghana was impressive. The discussions centered on how best the AfDB can fund entrepreneurs to venture into cocoa processing.
Communication Manager of the COCOBOD, Mr. Fiifi Boafo, told the media that management of COCOBOD made an appeal to the AfDB to consider funding entrepreneurs who want to go into the cocoa processing industry.
The AfDB also expressed profound satisfaction with the performance of the economy. According to the AfDB, 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 government over four days in Accra. The Executive Directors met Vice President Dr. Mahamudu Bawumia, Finance Minister Ken Ofori-Atta, Food and Agriculture Minister Dr. Owusu Afriyie Akoto, the management of COCOBOD, members of the private sector and some NGOs. The meetings were aimed at assessing the impact of AfDB’s $900 million projects in the country.
