The African Development Bank signed a loan agreement with Ghana in the Ivory Coast capital of Abidjan on Wednesday (14 July).
Bank vice-president Louis Pascal negre (in light suit) and Ghana's ambassador to the Ivory Coast Charles C. Lokko seated and talking (2 shots)
MV Mr. Negre and Mr. Lokko sit down and sign agreement (4 shots)
MV Model of proposed new offices of bank
MV Mr. Negre and Mr. Lokko snake hands and sit down
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Background: The African Development Bank signed a loan agreement with Ghana in the Ivory Coast capital of Abidjan on Wednesday (14 July). The loan was agreed on in April and will help Ghana to finance an industrial development involving the establishment of palm oil factories.
SYNOPSIS: The African Development Bank (ADB) was represented by its Acting President, Louis-Pascal Negre, and Ghana by its Ambassador to the Ivory Coast, Charles Lokko. Ghana plans to build three palm oil milling factories in the south west of the country. Building will start this year and is expected to be completed by 1978. When in operation the factories are expected to produce about 8,857 tons (9,000 tonnes) of palm oil and 885 tons (900 tonnes) of palm kernel oil by the time they reach full production capacity in 1983. the ADB's loan will produce 2.4 million US dollars (1.3 million sterling) of the three million US dollars (1.6 million sterling) needed for the three million US dollars (1.6 million sterling) needed for the project.
The ADB also has plans for the future and a model of their planned new headquarters was on display at Wednesday's meeting.