GRULAC’s Vital Role in Shaping the CFC’s Future
The Hague, 20 May 2025 – Ambassador Sheikh Mohammed Belal, Managing Director of the Common Fund for Commodities (CFC), hosted a high-level luncheon with Ambassadors, CDA a.i., and other representatives from the Group of Latin American and Caribbean Countries (GRULAC) on 20 May 2025 in a restaurant in The Hague. The event reaffirmed the mutual commitment to deepening collaboration and enhancing the region’s participation in the CFC’s development initiatives.
Ambassadors of Brazil, Colombia, Costa Rica, Cuba, Guatemala, Mexico, Panama, Peru, the Dominican Republic, Venezuela, and the Chargé d’Affaires a.i. of Argentina, as well as representatives from Ecuador, Nicaragua, and Guatemala, attended the luncheon.
Welcoming the guests, Ambassador Belal highlighted the organization’s expanding role in addressing global challenges, from poverty reduction to sustainable commodity development. He emphasized the urgency of collective action, urging strengthened partnerships to bridge the Global South-North divide. The meeting provided a platform for constructive dialogue on key topics, including the Integrated Programme for Commodities (IPC), the Agricultural Commodity Transformation (ACT) Fund, and the Humanizing Value Chains (HVC) initiative, which reflect the CFC’s mission to support inclusive and sustainable development in commodity-dependent economies.
Discussions also covered the CFC’s Call for Proposals, voluntary contributions from member states, enhanced cooperation with the United Nations Conference on Trade and Development (UNCTAD), and strategies to mobilize additional resources for impactful projects across GRULAC and other regions.
"We deeply value GRULAC’s continued engagement and see great potential to scale our impact in the region," said Ambassador Belal. "GRULAC were there to form the Fund, now we need GRULAC even more to keep the Fund closer to what our people aspire for." He reiterated that the shared vision for inclusive growth, sustainability, and human-centered value chains is at the core of everything the CFC does, and strengthening ties with Latin American and Caribbean countries remains essential to that mission.
The Ambassador of Brazil thanked the CFC for its multidimensional work to alleviate poverty and commended its recent joining of the Global Alliance for Poverty and Hunger. In response, Ambassador Belal highlighted innovative and courageous programs like Bolsa Família, where direct cash transfers have helped nearly 36 million Brazilians escape poverty. In the same vein, he recalled how CIMMYT in Mexico saved billions of lives through its groundbreaking Green Revolution, demonstrating the transformative power of targeted agricultural interventions.
From GRULAC, the Ambassador of Guatemala, H.E. Ms. Ana Cristina Rodriguez Pineda, expressed appreciation for the CFC’s dynamic leadership, noting that the Fund is redoubling efforts to empower smallholders and agri-entrepreneurs. "Through initiatives like Humanizing Value Chains (HVC) and the ACT Fund, we are laying the groundwork for resilience, innovation, and shared prosperity. GRULAC’s continued partnership will be pivotal in realizing this vision," she said.
The event concluded with a shared commitment to pursue deeper partnerships and align efforts to promote sustainable economic development through commodity value chains.
About the CFC
The Common Fund for Commodities (CFC) is an intergovernmental financial institution dedicated to supporting sustainable development in commodity-dependent developing countries. Through impact investment, technical cooperation, and partnerships, the CFC empowers producers, strengthens value chains, and contributes to the achievement of the Sustainable Development Goals (SDGs).
For media inquiries, please contact:
[CFC Media Relations Team]
[Email: managing.director@common-fund.org]
[Phone: +31 20 575 4949]