CFC and China resolved to work more for alleviation of poverty
Ambassador Sheikh Mohammed Belal, Managing Director of the Common Fund for Commodities (CFC) met H.E. Mr. Tan Jian, Ambassador of the People’s Republic of China to the Netherlands. They discussed the activities of the Common Fund for Commodities as well as ways of future cooperation at this challenging time of the pandemic and the war in Ukraine.
During the discussion following an introductory presentation on CFC, Ambassador Belal expressed humanity’s gratitude to China for alleviating more than 800 million people from poverty. Ambassador Belal expressed his keenness to learn from China’s success stories as it works towards easing the trap of commodity dependence globally. Highlighting some of the successful pilots that have been implemented by the CFC, Ambassador Belal sought the help of China to improve the format and character of CFC projects.
Ambassador Belal also shared information on the ongoing initiative on the formulation of a fund titled CIIF (Commodity Impact Investment Facility) designed to enable CFC to contribute more for alleviation of poverty. Once CIIF is formed, the People’s Republic of China would be welcome to join this impact investment fund as an anchor investor.
In response, H.E. Mr. Tan Jian mentioned that he has taken note of the discussion as well as noted the compliments for the People’s Republic of China for its support and contribution to the CFC. Ambassador Tan assured that he will explore examples of success in China so that CFC could implement similar, even more, impactful pilots in the future. Ambassador Tan expressed his appreciation for the good work of CFC and hoped that further collaboration could be explored in the future.
Ambassador Belal assured to pursue more innovative outreaches in the days to come to make the services of CFC available to as many people as possible in the commodity dependent developing world, with a heightened sense of innovations and creativity.