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The Ghana Cocoa Board (COCOBO) has discredited the National Democratic Congress’ (NDC) suggestion that government is deliberately delaying the release of seed funds to the Licensing Buying Companies (LBCs) for the purchase of cocoa for the 2020-2021 cocoa season.

In a statement signed by Eric Opoku, the Member of Parliament for Asunafo South and Ranking Member for Agriculture, the NDC said it was “deeply worried that till date, not a pesewa has been released by COCOBOD to LBCs for cocoa purchases since President Akufo-Addo declared the cocoa season opened on 2nd October 2020.”

COCOBOD in a statement however clarified that the delay in payment of the seed funds was not deliberate as the NDC had claimed.

It explained that the delay was occasioned by the need to “ensure that all conditions relating to the loan [seed funds] are satisfied.”

“It is also public knowledge that the COVID-19 pandemic has affected almost every country, every sector and every institution, including financial institutions across the globe. In view of this, there was a delay in the release of the first tranche of the money to COCOBOD,” it added.

COCOBOD said it had started releasing seed funds to qualified LBCs as at 22nd October 2020.

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