The National Democratic Congress, (NDC) Minority in Parliament has alleged that, government has planned to use yet to be approved 600 million USD for COCOBOD to run their 2020 campaign.
According to them, the New Patriotic Party, (NPP) Government has decided to use the loan facility to manage its campaign come 2020 by providing ambiguous strategies the loan intends to support.
The Ranking Member on Finance Committee in Parliament and The Minority Spokesperson on finance, Cassiel Ato Forson made these allegations in Parliament when he addressed The Parliamentary Press Corps.
Earlier at the plenary after debate, the the Minority Chief Whip and MP for Asawase, Mutaka Mubarak has arrested the process with Order 113 (2) of the Standing Orders of Parliament, forcing the First Deputy Speaker of Parliament, Joseph Osei Owusu to defer the question on the resolution to have the long term loan facility to the tune of Six hundred million USD (US$600,000,000.00) for the COCOBOD.
The loan, when approved will enable COCOBOD to obtain funds from the African Development Bank (AfDB) to finance Cocoa Productivity Enhancement Programmes with the aim of increasing Ghana’s national output to an annual average of one million tonnes whilst also doubling average productivity from the current 450kg/ha to about 1200kg/ha”.
On the utilization of loan proceeds, the report as contained in Finance Committee Report and presented to the plenary for debate noted that COCOBOD has drawn up strategies to
improve productivity per hectare of cocoa farms, increase processing and increase consumption locally and on the international market.
The summary of interventions to be financed with the loan their estimated costs (in dollars) are as follows: Hand Pollination 68,111,111.00, Farm Irrigation 40,683,678.61, Rehabilitation Cocoa Swollen Shot Virus Disease (CSSVD) 140,288,242.27, Rehabilitation Moribund Farms 82,711,757.73, Warehouse Capacity $0,000,000.00, Farmer Database 10,688,762.21,
Promotion of Domestic Processing 200,000,000.00 and Promotion of Consumption 7516144807 totalling US$600.000.000.00.
Story filed by Edzorna Francis Mensah
