The Member Countries of the CFC held the 27th meeting of the Governing Council in The Hague on 8-9 December 2015. This is the annual meeting of the highest decision making body of the CFC. Ms. Elizabeth-Sophie Mazzella di Bosco Balsa (Brazil), opened the 27th Annual Meeting of the Governing Council in her capacity as Chairperson of the Governing Council.
Mr. Kees Rade , Ambassador for Sustainable Development, The Netherlands, addressed the meeting on behalf of Ms. Lilianne Ploumen, Minister for Aid and Trade of The Netherlands. He underlined the need for more private sector involvement in long-term financing, in public-private partnerships and in projects on the ground. “The CFC allows cooperation among governments, public sectors, investors, NGO’s and the private sector, thus multiplying the impact of the CFC financial instruments”, said Mr. Rade in his welcome address. In the coming years, the CFC has to intensify the cooperation among its member states, investors and the private sector.
The National Statements were made by following National Delegations in order of appearance i.e. Tunisia, Peru, India, Sudan, Russian Federation, China, Sweden (on behalf of the OECD Group), Algeria, Indonesia, Venezuela, Bangladesh, and Sri Lanka.
The Governing Council elected, by acclamation, Mr. Parvindar Singh as Managing Director for a four-year term from 1 January 2016 until 31 December 2019. Mr. Singh joined the CFC in 2009 after having held positions at the state, federal, and international level during his career in the civil service of India. He held positions, inter alia, as Principal Secretary, Department of Food and Civil Supplies, and Consumer Affairs, and Department of Urban Governance, Government of Rajasthan; Secretary of Agriculture, Government of Rajasthan; Director, Ministry of Commerce, Government of India. Mr. Singh has worked at the CFC in 2000-2005 as the Chief Operations Officer; in 2009-2012 as Chief, Policy, Programme Management and Evaluation, and from 2012, as Managing Director a.i.
Mr. Singh thanked all delegates for their confidence and assured the Council that he would continue to put all his efforts and energy into further advancing the goal of commodity smallholders. “The emphasis will be on expanding the impact on smallholder livelihoods, incomes, and employment”, said Mr. Singh addressing the Governing Council after the election. He asked all Member Countries for their kind co-operation in addressing the issues in the years ahead with the view to improving the economic conditions and prospects of commodity producers.
The Council considered and decided to extend the date of entry into force of the amendments to the Agreement Establishing the Common Fund to 10 January 2017. This allows the CFC to conclude the process of aligning the CFC operations with public-private finance mobilization for development. In 2015, the Common Fund approved financial support for ten regular projects with a total cost of USD 30.66 million. The CFC would make available up to USD 11.29 million or 37 % of the total project cost.