CFC Response to COVID 19 pandemic – update 2 June 2022
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 been following the new guidelines announced in March 2022 by the Government of the Netherlands. The Government of the Netherlands has decided to change the COVID-19 Measures into a COVID-19 basic advice. 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. CFC advises all staff members and our partners to remain alert against the pandemic, while paying attention to the guidelines from the government of the Netherlands.
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 (post) 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.
Internally, staff are advised to observe the basic COVID-19 related protocols such as social distancing, washing hands regularly 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.
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 to assist qualifying companies to cover the need for additional working capital caused by the pandemic. After almost over two years of challenging COVID-19 pandemic time, CFC remains as attentive as it was at the beginning to begin the process of green recovery at the earliest. Given significant inflationary pressure amidst COVID-19 pandemic and geopolitical conflicts surrounding Ukraine war, the smallholders in the developing world are facing challenging time much more grievous than others. CFC, therefore, have been urging all generous member states and corporate entities to come forward with necessary resources so that we can put layers of precautions and safeguards around the vulnerable communities globally taking lessons from the devastations caused by the COVID-19. We should remind us , as often as we could, that in this globalized village no one is safe, unless everyone is safe.
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.