Ghana: Parliament Approves U.S.$600,000,000 AfDB Loan for CPEPs

7 November 2019

Parliament yesterday approved the long term loan facility agreement between the government and the African Development Bank (AfDB) for an amount of US$600,000,000 for Cocoa Productivity Enhancement Programmes (CPEPs) by the Ghana Cocoa Board (COCOBOD).

The approval was in pursuant to the provisions of Article 181 of the Constitution and Sections 55 and 56 of the Public Financial Management Act 2016 (ACT 921), the terms and conditions of all government borrowing which shall be laid before Parliament and shall not come into operation unless the terms and conditions are approved by a Resolution of Parliament in accordance with Article 181.

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