Dependency on Commodities
The livelihoods of millions of the world’s poorest people in Developing Countries, and in particular the Least Developed Countries, are heavily dependent on commodities. Commodities form the backbone of the economies and account for the bulk of the export earnings of these countries. The Common Fund, therefore, plays a catalytic role in promoting and supporting poverty alleviation through commodity-focused development. Thus, the Fund supports, inter alia, projects which promote productivity and diversification of production and commodity exports, create new end uses and/or commercial outlets for new products, improve marketing channels and processing of commodities. It will continue to play its role in these areas, giving special attention to the Least Developed Countries.
The Manual offers guidelines and procedures that must be met in order for the Common Fund to consider proposals for project funding. It is intended to assist all institutions and persons involved in conceptualising and formulating commodity projects submitted to the Common Fund.