A total of $2.26million has been allocated for 57 successful applicants around the Solomon Islands to support them with their cocoa and coconut projects.

This followed an exhaustive scrutiny of all the 636 applications received under the Cocoa and Coconut Revolving Fund (CCRF), the Ministry of Agriculture and Livestock (MAL) announced on Tuesday.

“The successful 57 applicants that have satisfactorily met all requirements.”

MAL wishes to inform the 57 approved recipients to listen out for further advise for when their grant agreements are ready for signing before funds can be disbursed. 

The ministry also clarified that this project funding is a revolving fund with minimal interest on the principle amount, meaning successful applicants have to repay the principle amount with interest according to a repayment plan. 

The initial 57 recipients are the first batch to be followed by another batch once funds are disbursed.  These 57 successful applicants will receive a total funding support of $2,261,000.00 in a form of a soft loan. 

30 recipients are for cocoa while 25 recipients are for copra buying and export. And 2 recipients are for transport services (Boat & OBM for loading).

Of the 57 recipients, Western province has 10 copra buyers, Temotu province has 2 cocoa buyers, Malaita province has 9 recipients with 5 cocoa and 4 copra buyers, Makira province has 10 recipients with 7 cocoa and 2 copra buyers and 1 transport service provider, Isabel province has 3 copra buyers, Honiara has 4 recipients with 3 cocoa and 1 copra exporter, Guadalcanal has 13 recipients with 10 cocoa and 2 copra buyers and 1 transport service provider, Choiseul province has 3 copra buyers and Central Islands Province has 3 copra buyers. 

The revolving fund was meant to immediately boost cocoa and copra exports by encouraging more local buyers and exporters to actively engage in trading of both commodities.

Selection was based among other criteria on the capacity of the applicant to repay the soft loan within one year, valid business license and sales receipts from exporters and overseas buyers. 

MAL strives to promote transparency by publishing all its recipients who receives public funding support through the ministry.

This will apply to all other agriculture projects including its commercial agriculture, cocoa and coconut development support program and food security and livestock industry programs. 

Below is the Approved Projects List. Under the First Batch 

MAKIRA

MALAITA 

GUADALCANAL 

HONIARA

WESTERN 

CENTRAL ISLANDS 

ISABEL 

CHOISEUL 

TEMOTU