The Minority in Parliament has threatened to write to the African Development Bank (AfDB) over the 600 million dollar loan facility it is extending to Ghana Cocoa Board (COCOBOD).
The facility is to be used for the Cocoa Productivity Enhancement Programme.
But, Cassiel Ato Forson, the Ranking Member of Parliament’s Finance Committee argues that the agreement is not in the best interest of the country, hence the resistance.
“The Minority members are going to write officially to the lenders to protest the use of the proceeds of the US$600 million. The structure of the loan agreement is unacceptable. It is an outlier and nobody should encourage this thing to happen in our republic. We are here as citizens and not as spectators. We will fight for the Republic of Ghana because this is not acceptable.”
Parliament on Tuesday deferred the approval of a 600 million dollar loan facility for the COCOBOD’s cocoa productivity enhancement programme.
This was after the Minority Leader, Haruna Iddrisu questioned the utilization of 68 million dollars for hand pollination, 5 million dollars as part of the school feeding programme for the distribution of chocolate and cocoa products and 200 million dollars to promote local processing of cocoa, among others.
This is because the facility it says is geared towards increasing productivity and the value of the sector.