The Minority in Parliament says international banks have rejected Ghana Cocoa Board's (COCOBOD) request for a prepayment loan to finance the purchase of cocoa. According to the Minority, in June 2024, COCOBOD issued a Request for Proposal of $1.5 billion loan to purchase up to 650,000 metric tonnes of cocoa for the 2024/2025 crop year. "But this request did not attract any interest from the international banks due to the poor health of COCOBOD and the collapse of the cocoa sector under its present management. "From a production level of 969,000 metric tonnes inherited from the NDC in the 2016/2017 crop year, cocoa production has declined to just a little over 400,000 metric tonnes for the 2023/2024 cocoa season", the Minority leader, Dr. Cassiel Ato Forson narrated in a statement. He continued: "The significant decline in cocoa production in the last eight years and the mismanagement of the cocoa sector have impacted COCOBOD's ability to meet its contractual obligations." Below is the full statement: PRESS STATEMENT For Immediate Release 21st August, 2024. INTERNATIONAL BANKS REJECT COCOBOD's $1.5 BILLION REQUEST FOR PROPOSAL For the first time in 32 years, International Banks have rejected Ghana Cocoa Board's (COCOBOD) request for a prepayment loan to finance the purchase of cocoa.