Ghana’s Cocobod secures $1.3bln syndicated loan

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Ghana’s cocoa industry regulator Cocobod has signed a 1.3 billion  dollars loan with international banks to fund purchases for the 2018/19 season, due to open early next month.

Ghana, the world’s second largest cocoa producer after Cote d’Ivoire, uses loans from international banks every year for bean purchases.

In the upcoming season it aims to buy at least 900,000 tonnes from farmers, spokesman Noah Amenya said.