The World Bank has announced a $300-million investment package for Ghana’s cocoa industry for the next five years.
The package is expected to shore up crop production over the next five years, a senior agricultural economist with the World Bank, Dr. Amos Gyau, said in Accra.
The Ghanaian Times report said that Dr. Gyau stated that the aim was to increase productivity levels from cocoa farmers as well as add value to the produce in line with the Cocoa Sector Value Chain Project.
Speaking at the launch of the sixth Institute of Economics and Financial Journalists (IFEJ) awards in Accra, Dr. Gyau said that the government of Ghana had approached the World Bank for the facility and that discussions are ongoing to finalise the modalities for the project.
“The World Bank seeks to support the cocoa sector to double productivity in the next five years,” he said.
He hinted that the bank also had plans to support the agricultural sector of the country by implementing the project to strengthen agriculture in the country.
DAP/GIK/APA