Foster Boateng, the Deputy Chief Executive Officer of Operations at Tree Crop Development Authority (TCDA) has disclosed that the World Bank has granted a US$ 100 million facility to the country to boost production of some cash crops and improve the value chains of cashew, coconut, and rubber.
Meanwhile, the facility is a partnership with the government under a six-year funding initiative known as the Tree Crop Diversification Project.
Mr. Boateng noted that 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.
Part of the money, moreover, will be used to tackle environmental issues, child labour and address key requirements of global buyers, developmental partners and governments.
Building and Managing Digitisation Platform
The TCDA will also use a percentage of the funds to build and manage a digitisation platform that enables the Authority to register and track value chain actors to boost regulation and resource mobilisation.
“A chunk of the money will be utilised to support the Cocoa Research Institute in conducting research into cashew production; and the Oil Palm Research Institute, Crop Research Institute among others, including capacity building for farmer-based organisations.”
Foster Boateng
The National Platform Facilitator for the Africa Sustainable Commodities Initiative (ASCI), Afua Serwah-Prempeh, who facilitated the meeting, said the original intention for the platform was to focus on sustainable production of oil palm.
“After CoP 27 in Egypt, we have sought to expand the platform’s scope to include other relevant commodities and tree crops. This meeting is basically held to discuss and decide which commodities to include in the new agenda, and how the platform will be funded.”
Afua Serwah-Prempeh
Key resolutions of the meeting include the agreement to give relevance to commodities that significantly contribute to afforestation, and a revision of national principles to reflect new commodities which are essential to the TCDA.
Meanwhile, the loan facility will further boom the booming coconut sector in Ghana. Coconut farming in Ghana is a key industry, with the country being one of the world’s leading producers of coconuts. Coconut farming is important to Ghana’s economy, as it produces a significant portion of the country’s agricultural income.
The majority of coconut production takes place in the coastal areas of Ghana, but some farmers also cultivate coconut palms in the more inland regions. Coconut farming in Ghana is largely traditional, and many of the farmers use practices that are centuries old. The majority of coconut farmers are smallholders, who depend heavily on traditional methods and tools to cultivate their crops.
