Ghana Cocoa Board to get approval for $1.5m loan

Parliament is expected to approve a $1.5 million loan for the Ghana Cocoa Board.

The transaction between the Board and a consortium of banks and financial institutions including Barclays Bank and Standard Chartered Bank, will be guaranteed by the Ghana government.

The funds will be used to purchase cocoa beans in Ghana for the 2012/2013 crop season.

The motion for the approval of the loan is contained in the provisional line up of Wednesday’s business transaction in the house.

By Eunice Menka