CFC holds 71st Meeting of Executive Board by teleconference

On 20 April 2021, the CFC held its 71st Meeting of the Executive Board (EB), using teleconference facilities for the third time due to the restrictions posed by the COVID-19 pandemic. The meeting was chaired by Ms. Anna Tofftén (Sweden) and was well attended. It also included the participation of the newly elected Chairperson of the Consultative Committee, Ms. Jie Chen (China), and of the Minister for Agriculture & Fisheries of Jamaica, Hon’ble Mr. Floyd Green and other dignitaries from CFC’s  member states and partners.

In his opening remarks, Managing Director Sheikh Mohammed Belal addressed the lingering effects of the COVID-19 pandemic on developing countries and small producers. He emphasised that Least Developed Countries, Landlocked Developing Countries, and Small Island Developing Countries must be urgently addressed. Moreover, as an increasing number of quality projects are being submitted under the Call for Proposals, member states were urged to provide the necessary support for the CFC to do justice of these good proposals, and thus, expand its impact. In this regard, the stronger focus of CFC projects on SDG 13 (Climate action), beyond its “core SDGs”, was highlighted.

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MISSION

To contribute to poverty alleviation by strengthening the income-generating capacity of commodity producers and mitigating vulnerability to their economic well being.

VISION

To strengthen and diversify the commodity sector in developing countries and transform it to be a major contributor to poverty alleviation and sustained economic growth and development.

Newsletter 17 – April 2021

Highlights

Fruit and spices from Madagascar: A journey from local to global value chains


A year-long adaption to COVID-19


Climate vs social impact: Trade-offs and synergies


Geodata for Agriculture and Water program (G4AW) supports innovations for food security


Overcoming the challenges of exporting coffee from Democratic Republic of the Congo and Rwanda


Outreach initiatives of the CFC from September 2020 to April 2021



UPCOMING EVENT
68th Meeting of the Consultative Committee
28 June to 1 July 2021
All events

CFC Response to COVID 19 pandemic – update 19 May 2021

What is Common Fund for Commodities (CFC) doing about the coronavirus outbreak?

Responding to the ongoing pandemic of Coronavirus, COVID-19, the Common Fund for Commodities (CFC) has adopted several measures based on most recent guidelines announced by the Government of the Netherlands on 20 April 2021. At the same time the CFC endeavors to keep up to date with all of the changing guidelines globally, with a specific focus in its Member Countries. When the World Health Organization categorized the spread of the virus as a pandemic, it became incumbent on all of us to be innovative in adopting appropriate measures.

These measures pertain to contingency staffing, working from home and quickly adapting to virtual meetings etc. However, the CFC as an organization that is devoted to the socioeconomic development of commodity producers, remains acutely aware of its enhanced duties at this time of pandemic. We are focusing on providing all necessary support to our projects partners assisting them to remain on course during this challenging time. The CFC is working hard to remain in contact with the project implementing authorities, providing support to minimize the impact of COVID-19, whenever possible.

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Internally, staff are advised to observe all COVID-19 related protocols such as social distancing, washing hands regularly, working from home as much as possible and staying at home when unwell. The CFC has implemented these measures to minimize the risks of transmission of this virus and to offer staff a safe working environment should they choose to work from the office. All reasonable measures are taken to protect CFC staff and its clients, while minimizing the impact of the outbreak on the implementation of the CFC’s activities in 2020 and beyond. We currently operate at full capacity with most work being done from home in the virtual “cloud office” of the CFC.

The CFC Member States were duly informed and updated about these measures during 70th Executive Board Meeting and the 32nd Governing Council Meeting which were held, virtually, on 1 October 2020 and 9 December 2020 resp.

In the meantime, the CFC would like to highlight the essential nature of enhanced global cooperation to keep commodity supply chains as minimally impacted as possible, which is at the center of the CFC’s mission as an UN affiliated International Financial Organization.

On 23 June 2020, the Executive Board of the CFC approved the establishment of the Emergency Liquidity Facility under the authority of the Managing Director which will assist qualifying companies to cover the need for additional working capital caused by the pandemic.

The CFC will continue its quest to keep itself in a state of readiness so that resiliency in the supply chain continues when lockdown restrictions imposed due to COVID-19 begin to ease. We will have to work in unity and with solidarity with all our partners and peers to emerge with as few disruptions as possible, while taking note of the positive silver linings, such as increased network preparedness and the increased familiarity with online business connectivity between the developing and developed world and to tweak, where appropriate, our work in the future.

Please write to us at   covid19-response@common-fund.org   if you have any comment/suggestion/idea to share.

CFC’s COVID-19 situation briefing      United Nations Update COVID-19      Global Trade Helpdesk COVID-19      WHO - COVID-19 advice

Our Mission

Making commodities work for everyone

The Common Fund’s mandate is to enhance the socioeconomic development of commodity producers and contribute to the development of society as a whole. In line with its market-oriented approach, the Fund concentrates on commodity development projects financed from its resources.

These resources consist of voluntary contributions, capital subscriptions by Member Countries transferred to the Second Account and interest earned. In partnership with other development institutions, the private sector and civil society, the Fund endeavours to achieve overall efficiency in and impact on commodity development.

Our Projects

In the least developed countries people heavily depend on commodities for their livelihood. Thus, commodities form the backbone of economies and they account for the bulk of the export earnings of countries.

CFC is proud to play a catalytic role in promoting and supporting poverty alleviation through commodity- focused development.

News

Deputy Head of Mission for the Republic of Kenya visits the CFC

27 May 2021, Amsterdam.   Ambassador Ms. Judith Achieng’ Sijeny, Deputy Head of Mission at the Embassy of Kenya in The Hague, is seen with Managing Director Ambassador Sheikh Mohammed Belal at the Secretariat of the CFC. Ambassador Sijeny today paid a courtesy visit to the Common Fund for Commodities to discuss issues of mutual interests. As a commodity dependent developing country, Kenya, as stated by Amb. Sijeny, takes CFC with utmost importance. Kenya expressed their readiness to do more for their people as well as for all poor people in the region.

Ambassador Sijeny was accompanied by Ms. Josephine Opili, Third Secretary at the Embassy. Ambassador Belal was accompanied by Mr. Hector Besong, Portfolio and Risk Manager.

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Ambassador of the People’s Republic of China visits CFC virtually

11 May 2021, Amsterdam.   The CFC received H.E. Mr. TAN Jian, Ambassador of the People’s Republic of China to the Netherlands, and other Embassy dignitaries virtually on 11 May 2021. Ambassador Sheikh Mohammed Belal, Managing Director of the Common Fund for Commodities (CFC), was accompanied by Mr. Axel Gruber, Chief Operations Officer of the CFC, and Mr. Andrey Kuleshov, Strategy and Development Advisor of the CFC.

After exchange of usual greetings and pleasantries, Ambassador Tan inaugurated the meeting involving high officials from the Embassy of The Hague, namely Mr. Zhang Guosheng, Economic and Commercial Counselor, Mr. Wang Sheng, Third Secretary, and Ms. Li Xi, Third Secretary. In his inaugural statement, Excellency Tan felicitated CFC for its innovative work and dedication for the SMEs and Smallholder farmers in developing countries.

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Meeting with officials from three Botswanan Ministries, Gaborone, and the Embassy of Botswana, Brussels

28 April 2021, Amsterdam.   CFC received H.E. Mr. Samuel Otsile Outlule, Ambassador of Botswana in Brussels and other dignitaries virtually on 28 April 2021. The delegation from Botswana was consists of senior officials from the Ministry of Investment, Trade and Industry, Ministry of Agriculture and the Ministry of Foreign Affairs and Cooperation from Gaborone as well as embassy officials based in Brussels.

H.E. Ambassador Sheikh Mohammed Belal, Managing Director of the Common Fund for Commodities (CFC), accompanied by Mr. Axel Gruber, Chief Operations Officer of the CFC, and Mr. Andrey Kuleshov, Strategy and Development Advisor of the CFC received this Botswana delegation.

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