Accra: The Italian government is set to provide a grant aimed at supporting the Ghana Cocoa Board (COCOBOD), as announced by Thomas Nyarko Ampem, Deputy Minister for Finance, following a high-level meeting in Accra with a delegation from Italy.
According to Ghana News Agency, while the Deputy Minister did not specify the grant’s amount, President John Dramani Mahama had previously indicated that COCOBOD’s debt stood at GHS32.5 billion. In his 2025 State of the Nation address, the President noted that GHS9.7 billion of this debt was due for payment in September this year.
The grant, which comes without conditions, is seen as a gesture of Italy’s goodwill and long-term interest in supporting Ghana’s cocoa industry to become more robust and sustainable, as emphasized by the Deputy Minister. In 2023, Ghana exported US$387 million worth of cocoa beans and US$55.38 million worth of cocoa products to Italy, highlighting Italy as a key bilateral partner in Ghana’s real sector.
Mr. Ampem noted that this support is part of broader efforts to deepen bilateral and economic cooperation between Ghana and Italy, particularly in agriculture and health. The government has prioritized these sectors, implementing initiatives such as the Ghana Medical Trust Fund (Mahama Cares) and the Accelerated Export Development Programme (AEDP).
The Deputy Minister further stated that the grant would play a crucial role in Ghana’s economic reset agenda, expressing gratitude to Italy and assuring Italian businesses of a supportive macroeconomic environment in Ghana.
The Italian delegation, led by Stefano Gatti, Director-General of the Italian Development Cooperation, recognized Ghana’s global reputation for high-quality cocoa beans, which is a significant factor in their decision to support the country.
In addition to the cocoa sector, the Italian government proposed a partnership with Ghana’s Ministry of Health to undertake joint health projects. Italy plans to provide technical expertise and capacity support for these initiatives, while Ghana’s Ministry of Health is tasked with identifying suitable projects.
The meeting was attended by several Italian dignitaries, including 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 the Foreign Ministry’s Director-General for Africa. Directors from Italy’s Ministry of Economy and Finance, alongside officials from the Italian Agency for Development Cooperation, were also present.