The Ghana Cocoa board, which markets the commodity for the West African country, signed a $200 million pre-export financing facility, according to data compiled by Bloomberg.
The three-year credit line, which will be secured against fixed price contracts with buyers of the crop, will be used to upgrade warehouses and cocoa farms in Ghana, the lenders said in a Dec. 2 statement when the facility was initially sought.
Cocobod, as the Accra-based board is known, is also in talks with banks to refinance its annual pre-export finance facility, according to three people with knowledge of the matter, who declined to be identified because the terms are private.
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