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Ghana - Ghana Cocoa Board - Project Summary Note
A senior (receivables-backed) loan to Ghana Cocoa Board (“COCOBOD”), a parastatal, to finance key components of its Productivity Enhancement Programmes (“PEPs”). The objective of the PEPs is to roll out a set of measures that will improve productivity per hectare and increase cocoa production levels well above 1 million tonnes per year (versus an average of 800,000 tonnes per year over the last ten years). The PEPs will mainly entail measures to sustainably increase plant fertility; develop irrigation systems; rehabilitate aged and disease-infected farms; increase warehouse capacity; and create an integrated farmer database. The programmes will also provide short-term working capital support to local cocoa-processing companies, thus facilitating domestic value addition) and consumption of cocoa products in Ghana.