The Italian government is to provide a grant to support the Ghana Cocoa Board (COCOBOD), Thomas Nyarko Ampem, Deputy Minister for Finance, has announced.
Mr. Ampem said this following a high-level meeting, in Accra, with a delegation from the Italian government.
Although the Deputy Minister for Finance did not disclose the amount the grant would cover, President John Dramani Mahama, has indicated that COCOBOD’s debt stood at GHS32.5 billion.
In his 2025 message on the State of the Nation, delivered in February, the President noted that GHS9.7bn of the GHS32.5bn was to be paid in September this year.
“This grant, which has no conditions attached, reflects Italy’s goodwill and long-standing interest in supporting Ghana’s cocoa sector, making the sector robust and sustainable,” the Deputy Minister said.
In 2023, Ghana exported US$387 million worth of cocoa beans to Italy and US$55.38 million worth of cocoa and cocoa preparation, making Italy a dependable bilateral partner in Ghana’s real sector.
Mr. Ampem stated that the gesture formed part of efforts to deepen bilateral and economic cooperation between Ghana and Italy in agriculture and health.
He said the two sectors remained government’s priority, hence, the implementation of initiatives like the Ghana Medical Trust Fund (Mahama Cares) and Accelerated Export Development Programme (AEDP).
He also said the support would be pivotal in Ghana’s economic reset agenda and expressed the government’s gratitude to Italy, assuring Italian businesses of an enabling macroeconomic environment for them to thrive in the country.
The Italian delegation led by Stefano Gatti, Director-General of the Italian Development Cooperation, underscored Ghana’s global reputation for producing high-quality cocoa beans as a key interest in supporting the country.
In the area of health, the Italian government proposed a partnership with Ghana’s Ministry of Health (MoH) to undertake joint projects of mutual interest.
In the proposed partnership, Italy would provide technical expertise and capacity support for the implementation of the selected projects, with the Ministry of Health expected to identify and propose suitable projects.
The meeting was attended by the Italian Ambassador to Ghana, Deputy National Coordinator for Italy’s Mattei Plan/Africa, Italian Foreign Ministry’s Special Envoy for the Mattei Plan and Foreign Ministry’s Director-General for Africa.
Some Directors from their Ministry of Economy and Finance, and officials from the Italian Agency for Development Cooperation were also present at the meeting.
