Colombia for more investments from CFC
H.E. Ms. Carolina Olarte Bácares, Ambassador of the Republic of Colombia to the Kingdom of the Netherlands, is seen with Managing Director Ambassador Sheikh Mohammed Belal at the Secretariat of the CFC. H.E. Ms. Carolina Olarte Bácares came to visit CFC, for the first time, to know more about the activities of the CFC and its impact on the ground.
Ambassador Olarte Bácares was accompanied by Mr. Miguel Alberto Gómez Vélez, Minister Plenipotentiary at the Embassy. Ambassador Belal was accompanied by Mr. Ernesto Daza Lacouture, CFC Impact Investment Manager.
During the discussion, following an introductory presentation on the CFC, Ambassador Belal briefed the delegation on the current discrepancy between CFC’s financing resources and the increased demand for CFC investment. CFC MD elaborated on how CFC is overwhelmed with the demand for its services and as such, would like to see greater support infrastructure so that the CFC could live up to the expectation of the member countries.
Ambassador Belal also elaborated on the introduction of the Agricultural Commodity Transformation (ACT) Fund, erstwhile referred to as CIIF, at the LDC5 Conference in Doha on 5 March, and narrated the outline of CFC’s own road map for alleviation of poverty in the Least Developed Countries (LDCs), Land Locked Developed Countries (LLDCs) and beyond. As the ACT Fund has now been introduced, CFC member countries are welcome to join this impact investment fund as an anchor investor and recommending the same to the private sectors as well.
Ambassador Olarte Bácares expressed her appreciation to the CFC for taking the initiative of launching this ACT Fund and assured to support both the process and construct through necessary coordination with all member states. She further appreciated the good work of the CFC and hoped that further collaboration could be explored in the days to come. Ambassador Carolina wish to see more investments from CFC in Colombia and beyond so that more people could be liberated from poverty.
Before taking leave, Ambassador Olarte Bácares highlighted the importance that her country ascribe to the issues of commodities and its impact on the people at the grassroots. Therefore, CFC is a natural ally for Colombia as they wish to make commodities work for all. Terming Colombia as a standard bearer of commodity successes, Ambassador Belal draw attention of the visiting Ambassador on how they can work together to do more for the people at the grassroots.
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.