{"id":46024,"date":"2014-09-09T11:11:12","date_gmt":"2014-09-09T11:11:12","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=46024"},"modified":"2014-09-09T11:11:12","modified_gmt":"2014-09-09T11:11:12","slug":"cocobod-signs-2billion-loan-on-thursday","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2014\/09\/cocobod-signs-2billion-loan-on-thursday\/","title":{"rendered":"COCOBOD signs $2billion loan on Thursday"},"content":{"rendered":"<p>The cedi is expected to see some significant stability as well as strengthen against major international currencies in the coming weeks.<\/p>\n<p>This follows the finalisation of the agreement for the 2 billion dollar cocoa syndicated loan for the 2013\/2014 cocoa season.<\/p>\n<p>Barring any last minute changes, partner banks to COCOBOD\u2019s syndicated loan will on Thursday 11 September,2014 sign the agreement to release funds for the purchase of cocoa beans.<\/p>\n<p>Cocobod had earlier announced it will seek 1.8 billion dollars this year for its syndicated loan.<\/p>\n<p>However finance minister Seth Tekper later announced this figure will be increased to 2 billion dollars.<\/p>\n<p>Last year Cocobod signed a $1.2 billion syndicated loan from international banks for the 2013\/14 cocoa crop purchases as against $1.5 billion for 2012\/13.<\/p>\n<p>The credit facility between Cocobod and a consortium of international and local banks was led by French lender Societe General.<\/p>\n<p>The Cocobod syndicated loan is used to purchase cocoa beans from farmers.<\/p>\n<p>Seth Tekper says the increase is due to Cocobod\u2019s increase in expenditure.<\/p>\n<p>\u2018The increase is on account of expected increase in output as well as expenditure\u2019<\/p>\n<p>Government has indicated the funds from the syndicated loan, the Eurobond among others will be the life line to salvaging the free falling cedi.<\/p>\n<p>&nbsp;<\/p>\n<p>By:\u00a0 Anim Kwaku Boadu\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cedi is expected to see some significant stability as well as strengthen against major international currencies in the coming weeks. This follows the finalisation of the agreement for the 2 billion dollar cocoa syndicated loan for the 2013\/2014 cocoa season. Barring any last minute changes, partner banks to COCOBOD\u2019s syndicated loan will on Thursday [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":46037,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[19],"tags":[4],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>COCOBOD signs $2billion loan on Thursday  - Citi 97.3 FM - Relevant Radio. 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