Cashew, coconut and rubber get US$100m financing boost in Ghana

The World Bank has granted a US$100million facility to boost production and improve the value chains of cashew, coconut and rubber, deputy Chief Executive Officer of Operations at Tree Crop Development Authority (TCDA) Foster Boateng has revealed. The facility is a partnership with government under a six-year funding initiative known as the Tree Crop Diversification Project. Speaking to B&FT at the maiden Ghana Africa Sustainable Commodities Initiative National Platform Meeting in Accra, Mr. Boateng said a portion of the money will be used by the TCDA to improve institutions and build systems within the tree crop sector; and build capacity of value chain actors such as the Cashew Council, Federation of Association of Ghanaian Exporters (FAGE), Coconut Federation and the Rubber Associations. Also, part of the money will be used to tackle environmental issues, child labour and address key requirements of global buyers, developmental partners and governments. The TCDA will also use a ...