Government is seeking the approval of parliament to borrow US$ 1.3 billion to shore up the purchase of cocoa for the 2020/2021 crop season.

The government has in addition tabled before the Finance Committee of Parliament some GHS6.5 million in tax waivers.

It’s likely that the debate and subsequent approval of the request would be considered before the House goes on recess later this week.

It would be recalled that the government in 2019 signed the US$1.3 billion loan for the purchase of some 850,000 metric tonnes of cocoa beans from farmers for 2019/2020 crop season.

The amount was a cocoa syndicated loan signed between COCOBOD and some international financial institutions.