COCOBOD is launching an investigation into the disbursement of a $263 million loan secured for cocoa farm rehabilitation, after discovering that only a fraction of the intended work was completed.
The Chief Executive Officer of COCOBOD, Dr. Randy Abbey, has raised concerns over the handling of a major rehabilitation initiative meant to revive cocoa farms affected by disease.
Speaking at a meeting with farmers in Nkawie, Ashanti Region, Dr. Abbey disclosed that although the loan was intended to rehabilitate 156,000 hectares of cocoa farms, only 40,000 hectares had been addressed by the time the current management took over.
According to him, the rehabilitation program was initiated after it was determined that roughly 40 percent of the country’s cocoa farms were severely impacted by disease, necessitating urgent intervention.
While the intention behind the project was commendable, the actual execution has come under scrutiny.
In addition to the $263 million loan, Dr. Abbey revealed that a further GHS700 million was pumped into the program, raising further questions about fund utilization and project outcomes.
He said COCOBOD has since referred the matter to the appropriate authorities for a full investigation.
Source: www.kumasimail.com
