Ghana’s Tree Crops Development Authority (TCDA) is gearing up to launch a $220 million tree crop diversification project, thanks to funding from the International Development Association (IDA) of the World Bank Group. Apexnewsgh reports
The project aims to enhance the production, processing, and trade of four high-value crops: cocoa, cashew, coconut, and rubber.
Acting CEO of TCDA, Dr. Andy Osei Okrah, confirmed that the project has entered its implementation phase and will be disbursed between TCDA and the Ghana Cocoa Board (COCOBOD). TCDA will receive $100 million, while COCOBOD will get $120 million. This funding is expected to be a game-changer for Ghana’s tree crop sector, strengthening the entire value chain from production to processing and export.
The six-year project aligns with TCDA’s vision of regulating and developing the tree crop industry to drive economic growth. The goal is to transform Ghana into a leading producer and exporter of these key crops, 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.
The project was initially launched last year and is expected to drive value addition and increase Ghana’s agricultural competitiveness. This reinforces the government’s commitment to diversifying the economy through the tree crop industry.
Some of the project’s key objectives include:
Enhancing Production: Improving the production of cocoa, cashew, coconut, and rubber crops.
Value Chain Support: Strengthening the value chain for these crops, from production to processing and export.
Institutional Capacity Building: Building the capacity of institutions involved in the tree crop sector.
Market Access: Improving market access for Ghana’s tree crops.
The project is expected to benefit over 52,000 farmers and create thousands of jobs, with a focus on women and youth.
Source: Apexnewsgh.com
