Cameroon and CFC reaffirm their partnership
H.E. Ms. Madeleine Liguemoh Ondoua, Ambassador of the Republic of Cameroon to the Kingdom of the Netherlands, undertook an official visit to the Secretariat of the Common Fund for Commodities (CFC). The purpose of her visit was to follow up on the visit of H.E. Mr. Lejeune Mbella Mbella, Minister of External Relations of Cameroon in November last year.
Ambassador Belal commenced the session with a comprehensive overview of the historic visit of H.E. Mbella and reiterated CFC’s resolve to do more for the commodity producing smallholders in Cameroon. Managing Director also highlighted how CFC is making use of its resources for a technology enabled commodity transformation in the developing world and the unprecedented surge in the demand for CFC's services. He contextualized this surge in demand against the backdrop of the ongoing pandemic, the conflict in Ukraine, and the fluctuating US exchange rates. Ambassador Belal underscored the critical importance of bolstering support to effectively meet the expectations of member countries in these challenging times.
Moreover, 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 take on the role of anchor investors within the ACT Fund, while simultaneously encouraging active engagement from the private sector.
Ambassador Liguemoh Ondoua offered her sincere commendation for the CFC's innovative stride in launching the ACT Fund, reiterating her country's unwavering support for the issues concerning commodities and their profound impact on both the environment and society. In a harmonious exchange, Ambassador Belal reassured Ambassador Liguemoh Ondoua that the CFC was committed to pursuing innovative approaches to extend its reach to the widest possible populace within commodity-dependent developing nations.
The dialogue between the two Ambassadors also paved the way for future collaboration. Ambassador Liguemoh Ondoua shared insightful proposals on how the CFC and Cameroon could forge a deeper partnership, thus amplifying their joint efforts towards sustainable development. The meeting was concluded with the expression of mutual assurances of support to do the necessary follow up in the days to come.