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Successful Re-election of Amb. Sheikh Belal as Managing Director at the 35th Governing Council Meeting

In a momentous turn of events at the 35th Annual Meeting of the Governing Council held in The Hague, the Common Fund for Commodities (CFC) has announced the successful re-election of its Managing Director. The election, which took place on 22 November 2023, marks a pivotal moment for the CFC and its mission to foster sustainable development and alleviate poverty in commodity-producing countries.

The re-elected Managing Director, Amb. Sheikh Belal will undertake a four-year term of office, steering the CFC through a crucial period of growth and impact. The announcement comes after a thorough and democratic election process, reflecting the commitment of the CFC to transparency and effective leadership.

 H.E. Dr Eniola Ajayi, Ambassador of Nigeria to the Kingdom of the Netherlands chaired over the session where the winning candidate, Ambassador Belal secured two third majority of the votes from its members. 



As an international organization, CFC plays a vital role in providing financial support to projects across commodity value chains in its member countries. These projects are instrumental in promoting sustainable development by supporting businesses, cooperatives, and institutions engaged in commodity production and trade.

The 35th Governing Council meeting, which convened representatives from 101 member countries and international organizations, served as a platform for dialogue and collaboration. The discussions held during this gathering underscored the challenges and opportunities faced by commodity-producing nations, emphasizing the need for visionary leadership to navigate these complexities.

As the re-elected Managing Director, Amb. Belal has been entrusted with steering the CFC toward innovative solutions, forging partnerships, and driving impactful projects that contribute to the development of commodity-producing countries.

As the re-elected Managing director, Amb. Belal said

"The CFC is a unique institution with a great history. I come as a firm believer in its mandate to help alleviate as many smallholders as possible, from poverty, through our technology enabled impact investment. Indeed, in my view, the Fund’s role has never been more important."

As the news of the successful re-election reverberates through the international community, it is a testament to the confidence and support placed in the leadership of the Common Fund for Commodities. The outcome of this election sets the stage for the CFC to continue its indispensable work, positively impacting the lives of countless individuals in member countries.

CFC reaffirms its commitment to its mission, and with the re-election of Amb. Belal as the Managing Director we look forward to making a lasting difference in the lives of those it serves.

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