Angola appreciates partnership with CFC
6 June 2023, The Hague - Amb. Sheikh Mohammed Belal, Managing Director of the Common Fund for Commodities (CFC) met H.E. Ms. Maria I. Resende Encoge, Ambassador of the Republic of Angola to the Netherlands, today at the Embassy of Angola in The Hague to discuss the issues of common interests as well as CFC's activities and its impact on the ground.
Ambassador Belal gave an introduction on the CFC and highlighted the growing demand for CFC investments globally considering the prevailing situation due to pandemic and war in Ukraine. He emphasized the need for greater support to meet the expectations of member countries.
Furthermore, Ambassador Belal discussed the introduction of the Agricultural Commodity Transformation (ACT) Fund, previously known as CIIF, at the LDC5 Conference in Doha. He shared the CFC's roadmap for poverty alleviation in the Least Developed Countries (LDCs), Land Locked Developed Countries (LLDCs), and beyond. Member countries were encouraged to join the ACT Fund as anchor investors and promote it to the private sector.
Ambassador Maria Encoge expressed appreciation for the CFC's initiative in launching the ACT Fund. She assured her support and coordination with all member states. She praised the CFC's work and expressed hope for further collaboration in future. Ambassador Maria Encoge emphasized the importance of commodities and their impact on grassroots communities. She expressed her desire for increased CFC investments in Angola and beyond to help lift more people out of poverty.
In response, Ambassador Belal assured that CFC would continue to pursue innovative approaches to make its services available to as many people as possible in commodity-dependent developing countries. Without innovative interventions that capitalize the abundant African resources of arable land, water and seeds, Africa continues to remain a food deficit continent, Ambassador Belal further mentioned.
Ambassador Maria Encoge shared how Angola is working on its vision to see Angola evolved as commodity powerhouse, instead of a commodity dependent country.This commitment and cooperation have the potential to create a positive and transformative impact on the lives of communities involved in commodity production and contribute to broader sustainable development goals in Angola and beyond.
Both the Ambassadors expressed their resolve to remain engaged in this shared journey of sustainability and alleviation of poverty.