BY NED GAGAHE
The Ministry of Agriculture and Livestock (MAL) has reminded recipients of the Cocoa and Coconut Revolving Fund (CCRF) that their first monthly soft loan repayments are now due.
In a statement issued on Sunday, August 17, 2025, MAL stressed that recipients must commence monthly interest repayments immediately as required under their signed grant agreements.
All payments are to be made directly to the MAL Development Account in line with agreed repayment schedules.
MAL also warns that failure to meet repayment obligations can result in legal action, noting that the signed agreements are legally binding.
“Your timely repayment will help ensure the ongoing success and sustainability of the program,” the ministry said.
The CCRF was established to provide accessible financing across the cocoa and coconut value chains, with the aim to boost productivity, improve rural livelihoods, increase exports, and strengthen economic resilience.
On May 2, 2025, MAL Minister Franklyn Derek Wasi officially presented cheque payments to 57 buyers, traders and exporters recognised as the first recipients of the CCRF.
Speaking at the handover ceremony, Minister Wasi commended the beneficiaries for their contribution to the growth of the cocoa and coconut industries and the broader national economy.
“You are not only vital to the future of agriculture in the Solomon Islands but also central to the growth and success of our economy,” Minister Wasi said.
He urged recipients to use the funds wisely and strictly for their intended purpose, primarily for the purchase of cocoa and copra. While acknowledging that allocations were less than originally requested, Wasi reaffirmed the government’s commitment to supporting the sector.
“Our goal is to reach 10,000 tons of cocoa bean exports and 30,000 tons of copra exports by the end of this current term,” the Minister stated.
He further assured that support will continue through the provision of cocoa driers and improved shipping services under MAL’s development programs.
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