The Tree Crops Development Authority (TCDA) is set to rollout a $220million tree crop diversification project for the Tree Crop Development Authority (TCDA) and the Ghana Cocoa Board (COCOBOD) this year, following the successful acquisition of funding from the International Development Association (IDA) of the World Bank Group.
Acting CEO of the Authority, Dr. Andy Osei Okrah confirmed the development during a visit to the authority’s head office in Kumasi. He noted that the project has now entered its implementation phase and will enhance the production, processing and trade of four key high-value crops including cocoa, cashew , coconut and rubber. Three of these crops namely, cashew,coconut and rubber will be under the operations of TCDA.
Dr. Osei Okrah announced that the $220million credit facility will be disbursed between TCDA and the Ghana Cocoa Board (Cocobod), with $100 million allocated to TCDA and $120 million to COCOBOD . “The successful acquisition of this funding is a game-changer for Ghana’s tree crop sector. With $100 million going directly to TCDA, we are well-positioned to strengthen the entire value chain—from production to processing and export.”
The six-year project will focus on enhancing the production, processing, and trade of four high-value tree crops: cashew, coconut,rubber,and cocoa
Dr. Okrah emphasized that this initiative aligns with TCDA’s vision of regulating and developing the tree crop industry to drive economic growth.
“Our goal is to transform Ghana into a leading producer and exporter and trade of these key crops by ensuring a well-structured and sustainable value chain. This project will create jobs, improve farmer livelihoods, institutional capacity and boost foreign exchange earnings for the country, create jobs, and position Ghana as a major player in global tree crop markets”
His visit to Kumasi marked his first regional tour since his appointment by President John Dramani Mahama. It also afforded him the opportunity to engage with staff on key operational challenges, including logistics, revenue collection, funding, and capacity building. He assured them of ongoing efforts to improve working conditions and enhance efficiency within the sector.
The acting CEO was accompanied by his deputy Rich Kofi Kofituo who is in-charge of operations.
The project, initially launched last year, is expected to drive value addition and increase Ghana’s agricultural competitiveness, reinforcing the government’s commitment to diversifying the economy through the tree crop industry.
Cocoa, coconut and cashews rubber.
Source: 3news.com
