The Ghana Cocoa Board (COCOBOD) has said a claim that it has not accounted for the $1.3 billion cocoa syndicated loan for the 2020/2021 crop season.
The allegation was made by the Member of Parliament for Juaboso, Mr Kwabena Mintah Akandoh, on Thursday.
According to the opposition lawmaker, COCOBOD failed to explain the whereabouts of the money meant for the purchasing of 900,000 tonnes of cocoa beans in the 2020/2021 crop season.
In a statement, however, COCOBOD said it has “met all its statutory requirements and agreements with its financial partners in accounting for the syndicated loan for the crop season which closed in September 2021”.
“Furthermore, COCOBOD disclosed that it has drawn down US$1.45 billion out of the US$1.5 billion facility procured for the present 2021/2022 season, into financing the purchase of cocoa and other industry costs”.
“The public is being urged to disregard the false claims by the Juaboso MP as COCOBOD is on course to meet all its financial obligations to farmers and the LBCs within the current crop season”.