The $750 million loan facility will be raised from local and foreign banks and is expected to be completed early next year and will be repaid with cocoa proceeds over a period of five years, he said.

Child labour - Cocoa farms

This will be in addition to an expected borrowing of $600 million from the African Development Bank for the building of warehouses and other measures to improve storage and distribution of the crop.

Part of the loans will also be used to train more extension officers, who will work in the cocoa growing communities and help educate the farmers on best agronomic practices that will boost crop yields.

The industry regulator is also seeking to improve yields and incomes of hundreds of thousands of small-holder farmers, who dominate the industry in Ghana.