Ghana’s Cocoa Industry Receives $100 Million Lifeline from World Bank for Rehabilitation The Ghana Cocoa Board (COCOBOD) has received a lifeline of $100 million from the World Bank to support the rehabilitation of its cocoa sector. The funds will be utilized to enhance cocoa production, boost incomes for farmers, and ensure the sector’s long-term sustainability. Ghana is the world’s second-largest producer of cocoa, and the industry is crucial to the country’s economy, accounting for about 10% of its GDP. However, in recent years, the sector has faced challenges such as plant diseases, climate change, and aging plantations. The $100 million grant from the World Bank will target these challenges through several key initiatives: * Rehabilitation of Diseased Cocoa Farms: Funds will be used to remove diseased cocoa trees and replant with high-yielding and disease-resistant varieties. This will improve productivity and increase farmers’ incomes. * Climate Smart Practices: COCOBOD will promote climate-resilient farming techniques, such as shade management, intercropping, and water conservation. These practices will help mitigate the effects of climate change on cocoa production. * Increased Farmer Support: The grant will also provide training and resources to cocoa farmers, including sustainable farming practices and financial literacy. This will empower farmers and enhance their capacity to manage their farms effectively. * Infrastructure Development: The funds will be used to rehabilitate rural roads and improve access to markets for farmers. This will facilitate the transportation of cocoa and other agricultural products. The rehabilitation project is expected to benefit an estimated 150,000 cocoa farmers and their families. It is also aligned with the government’s Ghana Cocoa Sector Rehabilitation Plan, which aims to modernize the industry and increase cocoa production to 1.5 million metric tons per year by 2024. Ghana’s Cocoa Industry Board (CICB) welcomed the grant, stating that it will significantly enhance the country’s cocoa production and support the livelihoods of farmers. The World Bank has a long history of supporting Ghana’s cocoa sector, and this latest investment demonstrates its continued commitment to the sector’s development. The $100 million grant is expected to have a transformative impact on Ghana’s cocoa industry, ensuring its sustainability and continuing to play a vital role in the country’s economy for generations to come.The World Bank has approved a $100 million loan to support the Cocoa Rehabilitation and Intensification Programme (CORIP) in Ghana. The programme aims to increase cocoa production, improve the quality of cocoa beans, and boost the incomes of cocoa farmers. CORIP will rehabilitate and intensify cocoa farms on 200,000 hectares of land, benefitting 600,000 farmers. The program will provide farmers with access to improved planting materials, training, and technical assistance. It will also support the establishment of farmer cooperatives and the development of cocoa marketing infrastructure. The World Bank’s loan will finance the project’s activities, including: * Rehabilitation and intensification of cocoa farms on 200,000 hectares of land * Provision of improved planting materials, training, and technical assistance to farmers * Establishment of farmer cooperatives and development of cocoa marketing infrastructure * Strengthening of cocoa research and extension services The CORIP is expected to increase cocoa production in Ghana by 10%, from 900,000 to 1 million metric tons per year. It will also improve the quality of cocoa beans produced in the country and boost the incomes of cocoa farmers. The project is aligned with the Government of Ghana’s Ghana Cocoa Forest REDD+ Programme (GCFRP), which aims to reduce emissions from deforestation and forest degradation in the cocoa sector. The CORIP will contribute to the GCFRP by increasing the productivity of cocoa farms and reducing the need for new cocoa plantations.