Amsterdam – The Consultative Committee meeting recently here in January reviewed project proposals over a range of commodity sectors and project interventions for financing consideration by the Common Fund.
The committee, which is chaired by Mr. Abdelatif Ahmed Mohamed Ijaimi (Sudan) worked through 11 proposal reviews and then deliberated for the Committee’s recommendations to the Executive Board.
Managing Director, Amb. Mchumo welcomed the committee and reported on developments in the Common Fund since the last meeting, including the Governing Council’s decision on the Fund’s reform process.
In his statement, Amb. Mchumo also briefed the committee on the recent 66th Meeting of the UN Second Committee, where the Common Fund, raised the matter of the impact of price volatility on the economies of commodity dependent developing countries. The resolutions adopted by the Second Committee on commodities and market volatility, call for coordinated work by countries and international organizations to develop better practical approaches to intervening in commodity markets to promote their positive role in global development.
Amb. Mchumo added that these discussions were reflected in some of the latest project proposals on the agenda of the Committee in the 49th session.
Amb. Mchumo said, “The current meeting of the Committee would consider 11 proposals. I recognized the diversity and considerable share of new ideas involved in the current proposals, but I’m confident the Committee will rise to the challenge and provide substantial guidance for the effective use of Common Fund resources in the interest of its member-countries.”
Under the priority guidelines established by the Executive Board, the Committee agreed on the following order for the regular projects recommended for approval under the Second Account:
>CFC/ICCO/43—Integrated Management of Cocoa Pests and Pathogens in Ghana, Cote d’Ivoire, Nigeria and Cameroon;
>CFC/FIGR/17—Rice Development in Uganda and Tanzania;
>CFC/IOOC/09—Economic Valorisation of Olive Genetic Resources, Creation of Pilot Demonstration Nursery Centres (Quality Enhancement through Nursery Development) in the Mediterranean Region.
As it is within the powers of the Managing Director, the committee also forwarded several fast track proposals for his approval. The proposals include: Bamboo, Access to Commodity Finance; Producer-Consumer Cooperation in Soft Commodities; and Zinc Die-Casting.