ECOSOC President appreciates the workings of the CFC and assured continued support
New York, 22 April 2026 — Ambassador Sheikh Mohammed Belal, Managing Director of the Common Fund for Commodities (CFC), held a productive meeting with H.E. Mr. Lok Bahadur Thapa, President of the United Nations Economic and Social Council (ECOSOC) and Ambassador/Permanent Representative of Nepal to the United Nations, on the margins of the Financing for Development Forum in New York.
The meeting provided an opportunity to exchange views on advancing the global development agenda, with particular focus on financing for development, commodity-dependent economies, and strengthening resilience in vulnerable communities.
Ambassador Belal briefed the ECOSOC President on the CFC’s ongoing efforts to support smallholder farmers, agri-SMEs, and commodity value chains in developing countries. He emphasized the importance of ensuring that development finance reaches the grassroots level, where it can have the greatest impact on livelihoods, income generation, and economic stability.
The discussion also highlighted the relevance of the Sevilla Commitment and the need for practical, scalable solutions that promote value addition, inclusive growth, and sustainable development, particularly in least developed countries.
In addition, Ambassador Belal introduced the concept of “Absolute Sixteens (A16),” an innovative framework aimed at identifying and prioritizing high-impact interventions across key development areas of sixteen developing countries which are both LDC (Least Developed Country) as well as LLDC (Landlocked Developing Country) to accelerate their inclusive and sustainable growth. Drawing from his perspective as a representative of Nepal, a landlocked developing country, H.E. Mr. Thapa expressed his appreciation for the CFC’s efforts in advancing such forward-thinking and practical concepts. He commended the organization for bringing innovative approaches like A16 to the forefront of development discourse, noting their relevance for countries facing structural vulnerabilities and geographic constraints.
Both sides underscored the importance of multilateral cooperation and partnerships in addressing the growing financing gap and navigating an increasingly complex global economic environment.
In this context, H.E. Mr. Thapa expressed his strong support for the idea of establishing a dedicated SME fund, noting that “small and medium-sized enterprises are the engines of any economy. ECOSOC appreciates this forward-looking initiative, which has the potential to unlock opportunities, drive inclusive growth, and strengthen economic resilience, particularly in developing countries.”
Ambassador Belal expressed his sincere appreciation to H.E. Mr. Thapa for taking the time to engage in a constructive dialogue despite a demanding schedule.
“The exchange was both timely and valuable, and we are grateful for the opportunity to discuss how we can collectively advance a more inclusive and resilient development agenda,” Ambassador Belal noted.
The Common Fund for Commodities looks forward to continued collaboration with ECOSOC and its leadership in promoting sustainable development solutions that are practical, inclusive, and responsive to the needs of commodity-dependent communities worldwide.
About the Common Fund for Commodities (CFC)
The CFC is a UN-affiliated international financial institution based in Amsterdam, working in over 100 countries to support inclusive economic development through impact investing in commodity value chains.
For media inquiries, please contact:
[CFC Media Relations Team]
[Email: managing.director@common-fund.org]