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Highlights – Board Meeting of 2 November 2018
The project presented by Management seeks a loan and a partial risk guarantee to finance the Productivity Enhancement Program of the Ghana Cocoa Board (COCOBOD), a state structure primarily responsible for the national cocoa industry of Ghana. Board members welcomed the strategic importance of this project to strengthen the cocoa sector in Ghana, which represents a decisive sector in the country's economy. Some Board members requested clarification on COCOBOD's financial situation and institutional capacity. In addition, the Board raised concerns about the ongoing integrity due diligence by the Bank’s department in charge of Integrity and Anti-Corruption (PIAC) and regretted that Management did not inform them. Moreover, it was decided that the project would be submitted for approval on a lapse-of-time basis once the opinion of PIAC has been issued; and that it would be revised, in particular, to clarify the financial situation of COCOBOD and strengthen the proposed logistical framework.