COCOBOD returns $250m from $600m loan facility secured from African Development Bank
Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo, has disclosed that the organization has reimbursed some $250 million it obtained from the African Development Bank earmarked for irrigation initiatives in cocoa farms across the country.
Mr Aidoo making the assertion, explained that the Ghana Irrigation Authority, which was tasked with overseeing the project, advised against its feasibility due to river contamination resulting from illegal mining activities, posing a significant threat to cocoa trees.
“When Cocoa Board sought funding from the African Development Bank totaling $600 million, we had to return $250 million of it, the $250 million portion of that funding was designated for irrigation purposes.
“We engaged the Ghana Irrigation Development Authority to conduct a preliminary assessment, and the report we received indicated that nearly all the rivers were contaminated due to illegal mining activities,” he noted.
According to the COCOBOD CEO, the cocoa industry remains at risk if illegal mining activities continue, asserting that many rivers in cocoa-growing regions are polluted, making the water unsuitable for cocoa cultivation.
This situation, he further noted, has compelled farmers to incur additional expenses by transporting water from their homes to their farms.
“Previously, farmers would fetch water from the nearest stream for activities like mass spraying. However, due to contamination, this practice is no longer feasible. Spraying muddy water onto cocoa leaves can block stomata, causing the leaves to wither and eventually leading to the death of trees.
“Moreover, using contaminated water for irrigation would necessitate frequent filter changes, making it impractical,” he explained.
