DURATION:
18 months
LOCATION:
Cameroon, Nigeria, Sierra Leone and Togo
NATURE OF PROJECT:
Price Risk Management
ESTIMATED TOTAL COST:
US$ 654,217
FINANCING COMMITED BY CFC:
US$ 313,828
CO-FINANCING
US$ 87,444
COUNTERPART FINANCING
US$ 252,945
PROJECT EXECUTING AGENCY (PEA):
 TWIN
PROJECT SUPERVISORY BODY:
International Cocoa Organization (ICCO)
PROJECT STARTING DATE:
 October 2014
COMPLETION DATE:
 April 2016

 

 

Brief Description:

The project will implement a major programme of awareness-raising, training and capacity building in Africa so as to assist cocoa smallholder farmers to mitigate the negative impact of intra-seasonal cocoa price volatility and secure more predictable and ultimately better incomes from cocoa growing, contributing to a more sustainable cocoa economy..

 

Project Objectives:

The overall objective of the project is to provide cocoa smallholder farmers with the capacity to tackle appropriately their exposure to cocoa price risk.

 

Project Status:

The project agreement was signed by CFC, ICCO and TWIN (the PEA) in March 2014 and the PEA signed the contractual agreement with each National Project Implementing Agency (NPIA) for the project implementation. The conditions for the release of the funds by CFC have been met for all countries except Togo. The first tranche of the project grant is to be disbursed to enable the project to commence. The recent policy changes in Togo regarding cocoa prices are currently being reviewed to determine the required amendments to planned project activities. The ICCO is in consultations with the CFC and the authorities in Togo in this respect.