Amsterdam – Concluding what had been seen as a long process of deliberations over the future role and mandate of the Common Fund and its long-term financial sustainability, the Executive Board at the recent meeting in Amsterdam, considered and accepted the report of the Chairman of the Ad-hoc Working Group of the Executive Board (EBWG).
The EBWG was established with terms of reference to make institutional recommendations on the Fund’s future and organizational structure.
Presenting the report, the chairman, Mr. Basilio Sandamu (Zimbabwe) stated the EBWG had considered all documents prepared by the Secretariat on the different reform Options, as well as the formal presentations by representatives of the United Nations Conference on Trade and Development (UNCTAD) and the United Nations Industrial Development Organization (UNIDO).
The Executive Board subsequently adopted the “Agreed Conclusions of the Sixth Meeting of the Ad-Hoc Working Group of the Executive Board“– the decision document outlining the key elements and steps to be taken in the proposed reform process.
The Managing Director, Amb. Mchumo said that he welcomed the proposed reform mechanism as approved by Member Countries.
“Even as the reform process gets underway, the Secretariat is committed to the efficient functioning of the institution and strengthening its long-term relationships with other development partnerships. The Fund will remain steadfast in pursuing its mission and delivering the needed development measures to commodities sector beneficiaries in Member Countries,” he said.
The Board also agreed that the implementation plan for reform calls for establishment of an open-ended Committee of Member States. This Committee is to be led by the Member States and the Secretariat of the CFC is to provide necessary assistance when requested.
Keenly aware that it is imperative that a firm decision be finalized in 2012, the Board requested the following representatives of Member Countries or their nominees located in The Hague to take the lead and convene a meeting, which will lead to establishment of the proposed Committee:
H.E. Ms. Ruthie C. Rono, Ambassador, Embassy of the Republic of Kenya, The Netherlands
Mr. Jaap Smit, Alternate Executive Director, Policy Advisor, Sustainable Economic Development Department (DDE/IM), Ministry of Foreign Affairs, The Netherlands
Ms. Helena Yánez, Alternate Executive Director, Minister, Embassy of Ecuador, The Netherlands
Mr. Senarath Dissanayake, Alternate Executive Director, Counsellor and Head of Chancery, Embassy of Sri Lanka, The Netherlands
Ms. Zhouxiang Lu, First Secretary, Alternate Executive Directo,r Department of International Trade and Economic Affairs, Ministry of Commerce, People’s Republic of China
Ms. Irina Medvedeva, Alternate Executive Director, Deputy Head of Division of International Organizations, Ministry of Economic Development, Russian Federation
Formal notice of the meeting will be sent to all Member Countries to enable them or their representatives to participate in the process. The meeting is expected to lead to the establishment of the proposed Committee, which will determine the scope of work, terms of reference, working procedures and the election of the Bureau. Routinely, the Board also made other important decisions related to project financing, administrative budget for 2012 and on the consultants’ recommendations on personnel and staff matters. [END/2011]