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Majority and Minority in heated debate over $600m loan for improvement of cocoa sector

By Mutala Yakubu
Mr Haruna Iddrisu (standing), Minority Leader, making a statement after the delivery of the SONA. Picture: EMMANUEL ASAMOAH ADDAI
Mr Haruna Iddrisu (standing), Minority Leader, making a statement after the delivery of the SONA. Picture: EMMANUEL ASAMOAH ADDAI

The Majority and Minority in Parliament seem to be worlds apart with regards to a loan facility of 600 million dollars for Cocoa Productivity Enhancement Programs by COCOBOD.

Both sides are not against the loan agreement, but the NDC Members in Parliament (MPs’) want a further and better particulars on what use the loan will be put to.

The Minority Leader Haruna Iddrisu said it will be necessary for the Finance Minister to appear before the House to explain to members the details of the loan.

READ ALSO: Govt increases cocoa producer price by 8.42%

The Ranking Member on the Finance Committee, Cassiel Ato Forson has given indications that the minority will write to the Lenders, that is the African Development Bank, (AfDB) to reconsider the terms and conditions for the loan facility.

Mr. Forson believes the main motive for this loan is campaign financing for next year’s elections.

Former Deputy Minister of Agriculture, William Quaitoo disputes some of the claims of the Minority.

He said it is stated no where that five million dollars will go into purchasing of chocolates.

Deputy Majority Chief Whip, Matthew Nyindam called on both sides to support the agreement.

READ ALSO: COCOBOD secures $1.3 billion for 2019-2020 cocoa season

According to him, the loan seeks to bring a lot of improvement to the cocoa sector.